Wall Street Zen Upgrades Cypherpunk Technologies (NASDAQ:CYPH) to Hold

Cypherpunk Technologies (NASDAQ:CYPH) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cypherpunk Technologies in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $3.38.

Cypherpunk Technologies Stock Up 14.2%

Shares of CYPH opened at $1.69 on Tuesday. The company has a 50 day moving average of $0.88 and a two-hundred day moving average of $0.53. Cypherpunk Technologies has a twelve month low of $0.22 and a twelve month high of $3.70. The company has a market cap of $70.03 million, a price-to-earnings ratio of -1.39 and a beta of -0.06.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. The business had revenue of $0.21 million for the quarter. On average, sell-side analysts expect that Cypherpunk Technologies will post -1.84 EPS for the current year.

Institutional Investors Weigh In On Cypherpunk Technologies

Several hedge funds have recently added to or reduced their stakes in the business. 683 Capital Management LLC raised its stake in shares of Cypherpunk Technologies by 7.4% during the 1st 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. Simplify Asset Management Inc. boosted its stake in shares of Cypherpunk Technologies by 13.8% in the third quarter. Simplify Asset Management Inc. now owns 975,608 shares of the company’s stock worth $443,000 after buying an additional 118,248 shares during the last quarter. Monaco Asset Management SAM grew its holdings in Cypherpunk Technologies by 410.0% during the first 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 during the period. Finally, Acadian Asset Management LLC raised its position in Cypherpunk Technologies 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 acquiring an additional 1,056,047 shares in the last quarter. 30.46% of the stock is owned by hedge funds and other institutional investors.

About Cypherpunk Technologies

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.