Leap Therapeutics (NASDAQ:LPTX) dropped 23.1% during mid-day trading on Monday . The stock traded as low as $6.94 and last traded at $7.49. Approximately 710,923 shares changed hands during trading, an increase of 500% from the average daily volume of 118,532 shares. The stock had previously closed at $9.74.

LPTX has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Leap Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Tuesday, January 23rd. HC Wainwright initiated coverage on shares of Leap Therapeutics in a research note on Thursday. They set a “buy” rating and a $12.50 target price on the stock. Finally, ValuEngine raised shares of Leap Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 22nd.

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The company has a market capitalization of $141.24, a PE ratio of -2.94 and a beta of -0.42.

Leap Therapeutics (NASDAQ:LPTX) last posted its earnings results on Friday, February 23rd. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.12. sell-side analysts forecast that Leap Therapeutics will post -2.37 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Leap Therapeutics stock. Sabby Management LLC bought a new position in shares of Leap Therapeutics (NASDAQ:LPTX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 89,350 shares of the company’s stock, valued at approximately $558,000. Sabby Management LLC owned approximately 0.72% of Leap Therapeutics as of its most recent SEC filing. Institutional investors own 2.77% of the company’s stock.

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About Leap Therapeutics

Leap Therapeutics, Inc, formerly HealthCare Pharmaceuticals, Inc, is a clinical-stage biopharmaceutical company. The Company engages in acquiring and developing therapeutics in cancer biology. Its lead product candidates for use in clinical trials include TRX518 and DKN-01. DKN-01 is a monoclonal antibody targeting Dickkopf-related protein 1 (DKK1).

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