Cypherpunk Technologies (NASDAQ:CYPH) Trading 24.6% Higher – What’s Next?

Shares of Cypherpunk Technologies (NASDAQ:CYPH) shot up 24.6% on Monday . The stock traded as high as $0.85 and last traded at $0.81. 15,654,990 shares traded hands during mid-day trading, an increase of 113% from the average session volume of 7,346,670 shares. The stock had previously closed at $0.6502.

Analysts Set New Price Targets

Several brokerages have weighed in on CYPH. Wall Street Zen downgraded Cypherpunk Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Cypherpunk Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cypherpunk Technologies has a consensus rating of “Sell”.

Cypherpunk Technologies Price Performance

The stock has a market capitalization of $86.23 million, a PE ratio of -40.48 and a beta of -0.02. The company has a 50 day moving average price of $0.97 and a 200-day moving average price of $0.94.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.42).

Hedge Funds Weigh In On Cypherpunk Technologies

Large investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in Cypherpunk Technologies during the 4th quarter valued at $37,000. LPL Financial LLC purchased a new stake in shares of Cypherpunk Technologies in the 4th quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cypherpunk Technologies in the 4th quarter worth $44,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the 4th quarter worth $56,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 30.46% of the company’s stock.

Cypherpunk Technologies Company Profile

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.