Leap Therapeutics (NASDAQ:LPTX) Downgraded to Hold Rating by Baird R W

Leap Therapeutics (NASDAQ:LPTX) was downgraded by equities research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Robert W. Baird downgraded shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $1.25 in a research note on Wednesday. HC Wainwright downgraded shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Leap Therapeutics Stock Performance

NASDAQ LPTX opened at $0.57 on Wednesday. The company has a market capitalization of $21.90 million, a P/E ratio of -0.30 and a beta of 0.17. The company has a fifty day moving average of $2.82 and a 200-day moving average of $2.75. Leap Therapeutics has a 52-week low of $0.55 and a 52-week high of $4.79.

Hedge Funds Weigh In On Leap Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Leap Therapeutics by 18.0% during the third quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after acquiring an additional 50,194 shares during the last quarter. Simplify Asset Management Inc. raised its stake in shares of Leap Therapeutics by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock valued at $2,716,000 after acquiring an additional 425,626 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Leap Therapeutics during the third quarter valued at about $65,000. HB Wealth Management LLC raised its stake in shares of Leap Therapeutics by 103.2% during the fourth quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock valued at $150,000 after acquiring an additional 26,150 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Leap Therapeutics by 268.2% during the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after buying an additional 58,094 shares during the period. 30.46% of the stock is owned by institutional investors.

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.