Cypherpunk Technologies (NASDAQ:CYPH) Price Target Raised to $4.90

Cypherpunk Technologies (NASDAQ:CYPH) had its price objective raised by Cantor Fitzgerald from $1.60 to $4.90 in a research report released on Thursday, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

CYPH has been the subject of several other research reports. Weiss Ratings raised shares of Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Cypherpunk Technologies has a consensus rating of “Hold” and a consensus price target of $4.90.

Cypherpunk Technologies Stock Up 3.2%

Shares of NASDAQ CYPH opened at $2.27 on Thursday. The company has a market cap of $244.62 million, a P/E ratio of 4.05 and a beta of 0.33. Cypherpunk Technologies has a 52 week low of $0.28 and a 52 week high of $3.70. The business has a 50-day simple moving average of $1.12 and a two-hundred day simple moving average of $0.93.

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

Insiders Place Their Bets

In other Cypherpunk Technologies news, Director Thomas Dietz sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1.72, for a total value of $34,400.00. Following the transaction, the director directly owned 132,500 shares in the company, valued at $227,900. This represents a 13.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its position in shares of Cypherpunk Technologies by 217.7% in the second quarter. Sequoia Financial Advisors LLC now owns 152,500 shares of the company’s stock worth $93,000 after purchasing an additional 104,500 shares during the last quarter. Cygnus Capital Advisors LLC lifted its position in Cypherpunk Technologies by 2,044.6% during the second quarter. Cygnus Capital Advisors LLC now owns 246,460 shares of the company’s stock valued at $151,000 after purchasing an additional 234,968 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Cypherpunk Technologies during the first quarter valued at approximately $576,000. Caitong International Asset Management Co. Ltd purchased a new position in Cypherpunk Technologies in the 4th quarter worth approximately $44,000. Finally, Millennium Management LLC purchased a new position in Cypherpunk Technologies in the 4th quarter worth approximately $37,000. 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.