Cypherpunk Technologies (NASDAQ:CYPH) Price Target Raised to $1.60

Cypherpunk Technologies (NASDAQ:CYPH) had its target price boosted by Cantor Fitzgerald from $0.90 to $1.60 in a research report released on Wednesday morning, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other research analysts have also commented on the company. Weiss Ratings upgraded Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Wall Street Zen upgraded Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.60.

Cypherpunk Technologies Trading Up 19.3%

Shares of CYPH stock opened at $1.42 on Wednesday. Cypherpunk Technologies has a 1 year low of $0.27 and a 1 year high of $3.70. The firm’s 50 day moving average is $0.71 and its 200-day moving average is $0.79. The firm has a market capitalization of $153.02 million, a price-to-earnings ratio of 2.54 and a beta of 0.09.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter.

Institutional Investors Weigh In On Cypherpunk Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CYPH. Millennium Management LLC acquired a new position in Cypherpunk Technologies in the fourth quarter valued at approximately $37,000. LPL Financial LLC bought a new position in Cypherpunk Technologies in the fourth quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cypherpunk Technologies during the 4th quarter worth $44,000. Sequoia Financial Advisors LLC acquired a new stake in Cypherpunk Technologies during the 4th quarter worth $56,000. Finally, HighTower Advisors LLC acquired a new stake in Cypherpunk Technologies during the 4th quarter worth $59,000. 30.46% of the stock is owned by institutional investors.

About Cypherpunk Technologies

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.