Leap Therapeutics (NASDAQ:LPTX) Rating Lowered to “Neutral” at HC Wainwright

Leap Therapeutics (NASDAQ:LPTX) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat Ratings reports. HC Wainwright also issued estimates for Leap Therapeutics’ FY2029 earnings at ($0.29) EPS.

Separately, Robert W. Baird downgraded shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $1.25 in a research report on Wednesday.

Leap Therapeutics Trading Down 9.1 %

LPTX stock opened at $0.52 on Wednesday. The company has a market capitalization of $19.90 million, a P/E ratio of -0.27 and a beta of 0.17. The firm has a 50 day simple moving average of $2.78 and a 200-day simple moving average of $2.74. Leap Therapeutics has a twelve month low of $0.51 and a twelve month high of $4.79.

Institutional Investors Weigh In On Leap Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Valence8 US LP acquired a new position in Leap Therapeutics in the third quarter worth $48,000. HighTower Advisors LLC bought a new position in shares of Leap Therapeutics in the 3rd quarter worth about $65,000. HB Wealth Management LLC lifted its position in shares of Leap Therapeutics by 103.2% in the 4th quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock worth $150,000 after buying an additional 26,150 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its holdings in shares of Leap Therapeutics by 13.0% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock valued at $827,000 after buying an additional 37,067 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Leap Therapeutics by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after buying an additional 50,194 shares during the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

About Leap Therapeutics

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.