HC Wainwright Reaffirms Buy Rating for Leap Therapeutics (NASDAQ:LPTX)

Leap Therapeutics (NASDAQ:LPTX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $5.50 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 69.23% from the stock’s current price.

Leap Therapeutics Stock Up 5.2 %

Shares of NASDAQ:LPTX opened at $3.25 on Thursday. The firm has a 50 day moving average of $3.01 and a 200 day moving average of $2.75. The company has a market capitalization of $124.54 million, a price-to-earnings ratio of -1.68 and a beta of 0.17. Leap Therapeutics has a 52 week low of $1.68 and a 52 week high of $4.79.

Institutional Investors Weigh In On Leap Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. raised its holdings in Leap Therapeutics by 67.9% in the second quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock worth $1,237,000 after purchasing an additional 255,293 shares in the last quarter. Marshall Wace LLP grew its position in shares of Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after buying an additional 58,094 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its stake in shares of Leap Therapeutics by 13.0% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock worth $827,000 after acquiring an additional 37,067 shares in the last quarter. Valence8 US LP purchased a new stake in Leap Therapeutics during the third quarter valued at approximately $48,000. Finally, HighTower Advisors LLC purchased a new stake in Leap Therapeutics during the third quarter valued at approximately $65,000. Institutional investors own 30.46% of the company’s stock.

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.