Cypherpunk Technologies Sees Unusually High Options Volume (NASDAQ:CYPH)

Cypherpunk Technologies (NASDAQ:CYPH) saw unusually large options trading activity on Wednesday. Stock investors purchased 9,339 call options on the company. This represents an increase of 653% compared to the typical daily volume of 1,240 call options.

Cypherpunk Technologies Trading Up 26.6%

Shares of CYPH stock traded up $0.21 on Wednesday, reaching $1.02. 5,779,128 shares of the stock were exchanged, compared to its average volume of 3,275,719. The company has a market capitalization of $109.92 million, a price-to-earnings ratio of 1.82 and a beta of 0.09. The business’s 50 day moving average price is $0.68 and its 200 day moving average price is $0.78. Cypherpunk Technologies has a twelve month low of $0.26 and a twelve month high of $3.70.

Cypherpunk Technologies (NASDAQ:CYPH) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CYPH. Cantor Fitzgerald increased their price objective on Cypherpunk Technologies from $0.90 to $1.60 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings upgraded Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Wall Street Zen raised Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.60.

Hedge Funds Weigh In On Cypherpunk Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. acquired a new position in shares of Cypherpunk Technologies in the 4th quarter valued at $2,172,000. Sequoia Financial Advisors LLC acquired a new stake in Cypherpunk Technologies during the 4th quarter worth $56,000. Key Client Fiduciary Advisors LLC purchased a new stake in Cypherpunk Technologies in the fourth quarter valued at $98,000. Millennium Management LLC purchased a new stake in Cypherpunk Technologies in the fourth quarter valued at $37,000. Finally, State Street Corp acquired a new position in Cypherpunk Technologies in the fourth quarter valued at $163,000. 30.46% of the stock is currently owned by hedge funds and other 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.