Leap Therapeutics Target of Unusually Large Options Trading (NASDAQ:LPTX)

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 10,745 call options on the stock. This represents an increase of 3,227% compared to the typical daily volume of 323 call options.

Wall Street Analyst Weigh In

Several research firms recently commented on LPTX. Wall Street Zen lowered Leap Therapeutics to a “strong sell” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Leap Therapeutics in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $3.38.

Leap Therapeutics Price Performance

Shares of LPTX stock traded up $0.48 during mid-day trading on Wednesday, hitting $0.92. The stock had a trading volume of 152,519,553 shares, compared to its average volume of 2,453,665. Leap Therapeutics has a 12-month low of $0.22 and a 12-month high of $3.61. The firm’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.38. The firm has a market capitalization of $38.08 million, a P/E ratio of -0.52 and a beta of -0.06.

Leap Therapeutics (NASDAQ:LPTX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.16. Analysts expect that Leap Therapeutics will post -1.84 EPS for the current year.

Hedge Funds Weigh In On Leap Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Monaco Asset Management SAM raised its stake in shares of Leap Therapeutics by 410.0% during the 1st quarter. Monaco Asset Management SAM now owns 1,050,000 shares of the company’s stock worth $320,000 after acquiring an additional 844,126 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Leap Therapeutics by 470.4% during the first quarter. Acadian Asset Management LLC now owns 1,280,531 shares of the company’s stock valued at $389,000 after buying an additional 1,056,047 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of Leap Therapeutics by 7.4% during the first quarter. 683 Capital Management LLC now owns 1,449,900 shares of the company’s stock valued at $442,000 after buying an additional 99,900 shares during the last quarter. Finally, Simplify Asset Management Inc. increased its position in shares of Leap Therapeutics by 13.8% in the 3rd quarter. Simplify Asset Management Inc. now owns 975,608 shares of the company’s stock valued at $443,000 after acquiring an additional 118,248 shares during the period. Hedge funds and other institutional investors own 30.46% of the company’s stock.

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.