Cypherpunk Technologies (NASDAQ:CYPH) Trading 4.4% Higher – Time to Buy?

Shares of Cypherpunk Technologies (NASDAQ:CYPH) rose 4.4% during mid-day trading on Tuesday . The company traded as high as $1.2350 and last traded at $1.19. Approximately 2,930,859 shares traded hands during trading, a decline of 47% from the average daily volume of 5,548,793 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

CYPH has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cypherpunk Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cypherpunk Technologies currently has a consensus rating of “Reduce” and an average target price of $3.38.

Cypherpunk Technologies Stock Up 4.4%

The firm has a market capitalization of $49.31 million, a price-to-earnings ratio of -0.98 and a beta of -0.19. The company’s 50 day moving average price is $1.32 and its 200 day moving average price is $0.70.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its 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 firm had revenue of $0.21 million during the quarter. As a group, analysts expect that Cypherpunk Technologies will post -1.84 earnings per share for the current year.

Institutional Investors Weigh In On Cypherpunk Technologies

An institutional investor recently raised its position in Cypherpunk Technologies stock. Acadian Asset Management LLC raised its holdings in Cypherpunk Technologies (NASDAQ:CYPH) by 470.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,280,531 shares of the company’s stock after purchasing an additional 1,056,047 shares during the quarter. Acadian Asset Management LLC owned 3.09% of Cypherpunk Technologies worth $389,000 at the end of the most recent reporting period. 30.46% of the stock is currently owned by institutional investors and hedge funds.

Cypherpunk Technologies Company Profile

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.