Leap Therapeutics (NASDAQ:LPTX) Stock Price Down 1.4% – Time to Sell?

Shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) fell 1.4% during trading on Thursday . The stock traded as low as $0.47 and last traded at $0.48. 400,455 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,155,238 shares. The stock had previously closed at $0.49.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LPTX. Baird R W downgraded shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Robert W. Baird downgraded shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $1.25 in a report on Wednesday, January 29th. Finally, HC Wainwright downgraded shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, January 29th.

Leap Therapeutics Stock Performance

The firm’s 50 day moving average is $1.99 and its 200-day moving average is $2.56. The stock has a market capitalization of $18.40 million, a price-to-earnings ratio of -0.25 and a beta of 0.15.

Hedge Funds Weigh In On Leap Therapeutics

Several large investors have recently made changes to their positions in LPTX. Valence8 US LP acquired a new position in shares of Leap Therapeutics in the 3rd quarter valued at $48,000. Prosperity Wealth Management Inc. acquired a new position in Leap Therapeutics during the fourth quarter worth $63,000. HighTower Advisors LLC acquired a new position in Leap Therapeutics during the third quarter worth $65,000. Jane Street Group LLC acquired a new position in Leap Therapeutics during the fourth quarter worth $107,000. Finally, Dauntless Investment Group LLC acquired a new position in Leap Therapeutics during the fourth quarter worth $144,000. 30.46% of the stock is currently 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.