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

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,540,000 shares, a decrease of 18.5% from the February 28th total of 1,890,000 shares. Currently, 5.4% of the company’s shares are short sold. Based on an average daily trading volume, of 716,500 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of Leap Therapeutics

A number of large investors have recently bought and sold shares of LPTX. HighTower Advisors LLC bought a new stake in shares of Leap Therapeutics during the 3rd quarter valued at about $65,000. Geode Capital Management LLC boosted its holdings 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 buying an additional 50,194 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of Leap Therapeutics during the 3rd quarter worth approximately $264,000. HB Wealth Management LLC increased its stake in shares of 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 in the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its position in shares of Leap Therapeutics by 12.2% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock valued at $1,039,000 after acquiring an additional 39,330 shares during the period. 30.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Leap Therapeutics Price Performance

Shares of LPTX stock opened at $0.31 on Tuesday. The stock has a market capitalization of $11.69 million, a PE ratio of -0.16 and a beta of 0.35. The business’s 50 day simple moving average is $0.64 and its 200 day simple moving average is $2.14. Leap Therapeutics has a one year low of $0.28 and a one year high of $4.79.

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

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.