Leap Therapeutics, Inc. (NASDAQ:LPTX) Short Interest Up 147.4% in March

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,810,000 shares, an increase of 147.4% from the March 15th total of 1,540,000 shares. Based on an average trading volume of 2,490,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 12.5% of the shares of the company are short sold.

Leap Therapeutics Trading Down 1.4 %

NASDAQ:LPTX traded down $0.01 during trading hours on Wednesday, hitting $0.37. 193,642 shares of the stock were exchanged, compared to its average volume of 811,814. The firm’s fifty day moving average price is $0.41 and its 200 day moving average price is $1.93. Leap Therapeutics has a 52-week low of $0.22 and a 52-week high of $4.79. The company has a market cap of $15.22 million, a P/E ratio of -0.19 and a beta of 0.22.

Leap Therapeutics (NASDAQ:LPTX) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Equities analysts expect that Leap Therapeutics will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Leap Therapeutics

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Leap Therapeutics by 18.0% in 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 in the last quarter. HighTower Advisors LLC acquired a new position in Leap Therapeutics during the third quarter worth $65,000. HB Wealth Management LLC grew its stake in shares of Leap Therapeutics by 103.2% in the fourth quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock valued at $150,000 after buying an additional 26,150 shares in the last quarter. Monaco Asset Management SAM purchased a new stake in shares of Leap Therapeutics in the 4th quarter valued at $592,000. Finally, Key Client Fiduciary Advisors LLC lifted its stake in Leap Therapeutics by 12.2% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after acquiring an additional 39,330 shares in the last quarter. 30.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on LPTX. HC Wainwright reaffirmed a “neutral” rating on shares of Leap Therapeutics in a report on Thursday, March 27th. Baird R W cut shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird lowered shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $1.25 in a research note on Wednesday, January 29th.

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.