Short Interest in Leap Therapeutics, Inc. (NASDAQ:LPTX) Grows By 147.4%

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,810,000 shares, a growth of 147.4% from the March 15th total of 1,540,000 shares. Based on an average trading volume of 2,490,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 12.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Leap Therapeutics

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Leap Therapeutics by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after buying an additional 50,194 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Leap Therapeutics in the third quarter valued at approximately $65,000. HB Wealth Management LLC increased its holdings in Leap Therapeutics by 103.2% in the 4th quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock worth $150,000 after buying an additional 26,150 shares during the period. Monaco Asset Management SAM purchased a new position in Leap Therapeutics during the 4th quarter worth approximately $592,000. Finally, Key Client Fiduciary Advisors LLC lifted its stake in Leap Therapeutics by 12.2% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock valued at $1,039,000 after acquiring an additional 39,330 shares during the period. 30.46% of the stock is currently owned by institutional investors.

Leap Therapeutics Stock Up 9.8 %

Shares of LPTX stock traded up $0.03 on Tuesday, hitting $0.37. The stock had a trading volume of 475,439 shares, compared to its average volume of 813,097. Leap Therapeutics has a one year low of $0.22 and a one year high of $4.79. The business has a 50 day moving average price of $0.41 and a 200 day moving average price of $1.94. The company has a market cap of $15.44 million, a PE ratio of -0.19 and a beta of 0.22.

Leap Therapeutics (NASDAQ:LPTX) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Equities research analysts expect that Leap Therapeutics will post -1.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LPTX shares. Baird R W lowered shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. HC Wainwright restated a “neutral” rating on shares of Leap Therapeutics in a report on Thursday, March 27th. Finally, Robert W. Baird lowered Leap Therapeutics from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $1.25 in a research note on Wednesday, January 29th.

Leap Therapeutics Company Profile

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.