Leap Therapeutics (NASDAQ:LPTX) Issues Earnings Results

Leap Therapeutics (NASDAQ:LPTX) announced its earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16, Zacks reports.

Leap Therapeutics Trading Up 363.1%

LPTX stock traded up $1.59 during midday trading on Wednesday, reaching $2.03. 716,272,726 shares of the company’s stock traded hands, compared to its average volume of 5,460,750. Leap Therapeutics has a 52-week low of $0.22 and a 52-week high of $3.61. The stock has a market cap of $83.96 million, a P/E ratio of -1.34 and a beta of -0.06. The stock’s 50-day moving average is $0.45 and its 200 day moving average is $0.38.

Institutional Trading of Leap Therapeutics

An institutional investor recently raised its position in Leap Therapeutics stock. Acadian Asset Management LLC lifted its stake in Leap Therapeutics, Inc. (NASDAQ:LPTX) by 470.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,280,531 shares of the company’s stock after purchasing an additional 1,056,047 shares during the quarter. Acadian Asset Management LLC owned about 3.09% of Leap Therapeutics worth $389,000 at the end of the most recent reporting period. 30.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leap Therapeutics in a report on Wednesday, October 8th. Wall Street Zen lowered Leap Therapeutics to a “strong sell” rating in a research report on Saturday, October 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Leap Therapeutics currently has a consensus rating of “Reduce” and a consensus target price of $3.38.

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.