Leap Therapeutics (NASDAQ:LPTX) Issues Quarterly Earnings Results

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

Leap Therapeutics Trading Up 254.5%

Shares of NASDAQ LPTX traded up $1.11 during mid-day trading on Thursday, reaching $1.55. The company had a trading volume of 776,192,407 shares, compared to its average volume of 1,405,051. The company has a 50-day moving average price of $0.48 and a two-hundred day moving average price of $0.39. Leap Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.61. The stock has a market cap of $64.27 million, a PE ratio of -0.98 and a beta of -0.06.

Institutional Trading of Leap Therapeutics

A hedge fund recently raised its stake in Leap Therapeutics stock. Acadian Asset Management LLC lifted its holdings in shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) by 470.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,280,531 shares of the company’s stock after buying 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 quarter. 30.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Leap Therapeutics in a report on Wednesday, October 8th. Wall Street Zen downgraded Leap Therapeutics to a “strong sell” rating in a research report on Saturday, October 18th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target 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.