Leap Therapeutics, Inc. (NASDAQ:LPTX) Sees Significant Increase in Short Interest

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,140,000 shares, an increase of 50.7% from the November 30th total of 1,420,000 shares. Approximately 7.5% of the company’s stock are sold short. Based on an average trading volume of 352,300 shares, the short-interest ratio is currently 6.1 days.

Hedge Funds Weigh In On Leap Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Simplify Asset Management Inc. boosted its holdings in shares of Leap Therapeutics by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after buying an additional 425,626 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $847,000 after acquiring an additional 50,194 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its position in shares of Leap Therapeutics by 13.0% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock valued at $827,000 after acquiring an additional 37,067 shares during the period. Exome Asset Management LLC purchased a new stake in shares of Leap Therapeutics in the 3rd quarter worth $264,000. Finally, Marshall Wace LLP raised its holdings in Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after purchasing an additional 58,094 shares during the period. 30.46% of the stock is owned by institutional investors.

Leap Therapeutics Price Performance

Leap Therapeutics stock traded down $0.03 during midday trading on Friday, reaching $2.95. 203,628 shares of the company traded hands, compared to its average volume of 254,221. Leap Therapeutics has a 12 month low of $1.68 and a 12 month high of $5.00. The firm has a market capitalization of $113.04 million, a price-to-earnings ratio of -1.53 and a beta of 0.21. The business has a 50 day moving average of $3.13 and a two-hundred day moving average of $2.64.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 price target on shares of Leap Therapeutics in a report on Friday, November 15th.

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.