5,319,148 Shares in Leap Therapeutics, Inc. (NASDAQ:LPTX) Purchased by Gilead Sciences Inc.

Gilead Sciences Inc. acquired a new position in Leap Therapeutics, Inc. (NASDAQ:LPTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,319,148 shares of the company’s stock, valued at approximately $15,293,000. Leap Therapeutics accounts for approximately 1.0% of Gilead Sciences Inc.’s investment portfolio, making the stock its 7th biggest position. Gilead Sciences Inc. owned 0.14% of Leap Therapeutics as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LPTX. Prosperity Wealth Management Inc. bought a new position in shares of Leap Therapeutics during the fourth quarter valued at approximately $63,000. HighTower Advisors LLC bought a new position in Leap Therapeutics in the 3rd quarter valued at $65,000. HB Wealth Management LLC grew its position in Leap Therapeutics by 103.2% in the 4th 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. Key Client Fiduciary Advisors LLC lifted its position in shares of Leap Therapeutics by 12.2% during the fourth 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 last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Leap Therapeutics by 1,668,066.7% during the fourth quarter. NewEdge Advisors LLC now owns 50,045 shares of the company’s stock valued at $144,000 after purchasing an additional 50,042 shares during the period. Institutional investors own 30.46% of the company’s stock.

Leap Therapeutics Price Performance

LPTX stock opened at $0.36 on Friday. Leap Therapeutics, Inc. has a 1-year low of $0.22 and a 1-year high of $4.79. The business has a 50-day moving average price of $0.41 and a 200 day moving average price of $1.92. The company has a market capitalization of $14.99 million, a P/E ratio of -0.19 and a beta of 0.22.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. On average, analysts anticipate that Leap Therapeutics, Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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