Leap Therapeutics, Inc. (NASDAQ:LPTX) Sees Large Decline in Short Interest

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 2,130,000 shares, a drop of 33.6% from the January 31st total of 3,210,000 shares. Based on an average trading volume of 768,400 shares, the short-interest ratio is presently 2.8 days. Currently, 7.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Leap Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Gilead Sciences Inc. bought a new stake in Leap Therapeutics in the 4th quarter worth approximately $15,293,000. Point72 Asset Management L.P. bought a new stake in Leap Therapeutics in the 4th quarter worth approximately $4,025,000. Simplify Asset Management Inc. grew its position in Leap Therapeutics by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after purchasing an additional 425,626 shares during the period. Key Client Fiduciary Advisors LLC grew its position in Leap Therapeutics by 12.2% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after purchasing an additional 39,330 shares during the period. Finally, 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. Institutional investors own 30.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Baird R W downgraded shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. HC Wainwright downgraded shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 29th. Finally, Robert W. Baird downgraded shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $9.00 to $1.25 in a research report on Wednesday, January 29th.

Leap Therapeutics Trading Down 0.0 %

NASDAQ:LPTX opened at $0.46 on Friday. Leap Therapeutics has a 12 month low of $0.45 and a 12 month high of $4.79. The company has a market cap of $17.75 million, a PE ratio of -0.24 and a beta of 0.15. The company has a 50 day simple moving average of $1.75 and a two-hundred day simple moving average of $2.50.

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.