Cypherpunk Technologies (NASDAQ:CYPH) Shares Up 0.9% – Time to Buy?

Cypherpunk Technologies (NASDAQ:CYPH) shares rose 0.9% during mid-day trading on Monday . The company traded as high as $0.6550 and last traded at $0.6268. Approximately 763,162 shares traded hands during trading, a decline of 53% from the average session volume of 1,638,020 shares. The stock had previously closed at $0.6215.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CYPH shares. Weiss Ratings raised Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Cantor Fitzgerald raised shares of Cypherpunk Technologies to a “strong-buy” rating in a research note on Friday, July 3rd. Finally, Wall Street Zen raised shares of Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $0.90.

Cypherpunk Technologies Trading Up 0.9%

The firm’s fifty day moving average price is $0.80 and its 200-day moving average price is $0.82. The company has a market cap of $66.73 million, a price-to-earnings ratio of -31.32 and a beta of 0.07.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.42).

Institutional Investors Weigh In On Cypherpunk Technologies

Several large investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in shares of Cypherpunk Technologies during the fourth quarter worth about $37,000. LPL Financial LLC acquired a new position in shares of Cypherpunk Technologies in the 4th quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Cypherpunk Technologies during the 4th quarter worth approximately $44,000. Sequoia Financial Advisors LLC bought a new stake in Cypherpunk Technologies during the 4th quarter worth approximately $56,000. Finally, HighTower Advisors LLC bought a new stake in Cypherpunk Technologies during the 4th quarter worth approximately $59,000. 30.46% of the stock is currently owned by institutional investors.

About Cypherpunk Technologies

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.