Leap Therapeutics (NASDAQ:LPTX) Share Price Passes Below 50-Day Moving Average of $2.58

Leap Therapeutics, Inc. (NASDAQ:LPTX)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.58 and traded as low as $2.57. Leap Therapeutics shares last traded at $2.70, with a volume of 73,653 shares changing hands.

Wall Street Analysts Forecast Growth

LPTX has been the topic of several research reports. Rodman & Renshaw initiated coverage on shares of Leap Therapeutics in a research note on Friday, June 28th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of Leap Therapeutics in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Leap Therapeutics has a consensus rating of “Buy” and a consensus price target of $10.40.

Leap Therapeutics Stock Performance

The business’s 50 day moving average is $2.58 and its 200-day moving average is $2.52. The firm has a market capitalization of $69.12 million, a price-to-earnings ratio of -1.13 and a beta of 0.27.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.10). Equities research analysts forecast that Leap Therapeutics, Inc. will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Leap Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Leap Therapeutics by 111.7% during the 1st quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock worth $2,308,000 after buying an additional 457,904 shares during the period. Simplify Asset Management Inc. increased its holdings in Leap Therapeutics by 67.9% in the 2nd quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock valued at $1,237,000 after buying an additional 255,293 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Leap Therapeutics by 349.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock valued at $750,000 after purchasing an additional 219,563 shares in the last quarter. Key Client Fiduciary Advisors LLC boosted its position in Leap Therapeutics by 22.2% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock worth $558,000 after buying an additional 51,838 shares during the period. Finally, Marshall Wace LLP raised its holdings in Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after purchasing an additional 58,094 shares during the last quarter. 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.