Cypherpunk Technologies (NASDAQ:CYPH) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Cypherpunk Technologies (NASDAQ:CYPH) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.74 and traded as low as $0.6074. Cypherpunk Technologies shares last traded at $0.6368, with a volume of 1,109,176 shares trading hands.

Wall Street Analyst Weigh In

CYPH has been the subject of a number of analyst reports. Cantor Fitzgerald upgraded Cypherpunk Technologies to a “strong-buy” rating in a research note on Friday, July 3rd. Wall Street Zen raised Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings cut Cypherpunk Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $0.90.

Cypherpunk Technologies Stock Up 7.8%

The stock has a market capitalization of $67.79 million, a P/E ratio of -31.82 and a beta of 0.09. The company has a fifty day moving average price of $0.74 and a 200-day moving average price of $0.80.

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

Hedge Funds Weigh In On Cypherpunk Technologies

Several large investors have recently modified their holdings of CYPH. Millennium Management LLC bought a new stake in Cypherpunk Technologies in the fourth quarter worth $37,000. LPL Financial LLC bought a new position in Cypherpunk Technologies during the fourth quarter valued at $38,000. Caitong International Asset Management Co. Ltd bought a new position in Cypherpunk Technologies during the fourth quarter valued at $44,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter valued at $56,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter valued at $59,000. Institutional investors own 30.46% of the company’s stock.

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.