Leap Therapeutics (NASDAQ:LPTX) Shares Up 368.6% – Should You Buy?

Shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) shot up 368.6% during mid-day trading on Monday . The stock traded as high as $2.54 and last traded at $2.05. 760,562,526 shares changed hands during mid-day trading, an increase of 1,770% from the average session volume of 40,666,756 shares. The stock had previously closed at $0.4375.

Leap Therapeutics Stock Up 368.6%

The business has a 50-day moving average of $2.05. The company has a market capitalization of $84.95 million, a P/E ratio of -1.68 and a beta of -0.06.

Hedge Funds Weigh In On Leap Therapeutics

An institutional investor recently raised its position in Leap Therapeutics stock. Bank of America Corp DE boosted its stake in shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) by 451,295.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,444,466 shares of the company’s stock after buying an additional 1,444,146 shares during the quarter. Bank of America Corp DE owned 3.49% of Leap Therapeutics worth $656,000 as of its most recent filing with the Securities and Exchange Commission. 30.46% of the stock is currently owned by institutional investors and hedge funds.

About Leap Therapeutics

Leap Therapeutics, Inc (NASDAQ: LPTX) is a clinical-stage biotechnology company focused on the discovery and development of targeted therapies and immuno-oncology treatments for patients with cancer. The company advances candidates through preclinical and clinical development with the goal of addressing unmet needs in solid tumors by modulating tumor biology and antitumor immune responses.

Leap’s research and development strategy emphasizes biologic therapeutic agents and combination approaches intended to enhance efficacy in difficult-to-treat cancers.