Leap Therapeutics (NASDAQ:LPTX) Announces Earnings Results

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

Leap Therapeutics Trading Up 418.6%

Shares of NASDAQ:LPTX traded up $1.83 during mid-day trading on Wednesday, reaching $2.27. The stock had a trading volume of 606,499,428 shares, compared to its average volume of 4,980,580. Leap Therapeutics has a twelve month low of $0.22 and a twelve month high of $3.61. The firm has a market cap of $94.03 million, a PE ratio of -1.44 and a beta of -0.06. The firm has a 50 day simple moving average of $0.45 and a two-hundred day simple moving average of $0.38.

Analyst Ratings Changes

Several equities research analysts have weighed in on LPTX shares. Wall Street Zen cut shares of 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 research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Leap Therapeutics currently has an average rating of “Reduce” and an average price target of $3.38.

Institutional Trading of Leap Therapeutics

A hedge fund recently raised its stake in Leap Therapeutics stock. Acadian Asset Management LLC raised its stake in Leap Therapeutics, Inc. (NASDAQ:LPTX) by 470.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period. 30.46% of the stock is owned by institutional investors.

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.