Robert W. Baird Downgrades Leap Therapeutics (NASDAQ:LPTX) to Neutral

Leap Therapeutics (NASDAQ:LPTX) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $1.25 price target on the stock, down from their prior price target of $9.00. Robert W. Baird’s price objective suggests a potential upside of 140.71% from the stock’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of Leap Therapeutics in a report on Thursday, January 16th.

Leap Therapeutics Stock Down 9.1 %

Shares of LPTX stock opened at $0.52 on Wednesday. The firm has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.74. The stock has a market capitalization of $19.90 million, a PE ratio of -0.27 and a beta of 0.17. Leap Therapeutics has a 52 week low of $0.51 and a 52 week high of $4.79.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position in shares of Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after purchasing an additional 58,094 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its stake in shares of Leap Therapeutics by 13.0% during the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock worth $827,000 after purchasing an additional 37,067 shares in the last quarter. Simplify Asset Management Inc. increased its holdings in Leap Therapeutics by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock valued at $2,716,000 after buying an additional 425,626 shares during the last quarter. Valence8 US LP acquired a new stake in Leap Therapeutics in the third quarter valued at $48,000. Finally, HighTower Advisors LLC purchased a new stake in Leap Therapeutics during the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 30.46% of the company’s stock.

Leap Therapeutics Company Profile

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead product candidates include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers; and FL-301, a monoclonal antibody that targets cells that express Claudin18.2 on their cell surface and is in phase II clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.