Investors Buy High Volume of Leap Therapeutics Call Options (NASDAQ:LPTX)

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of some unusual options trading on Wednesday. Investors purchased 10,745 call options on the company. This is an increase of 3,227% compared to the average volume of 323 call options.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen downgraded shares of Leap Therapeutics to a “strong sell” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Leap Therapeutics in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Leap Therapeutics currently has an average rating of “Reduce” and a consensus target price of $3.38.

Hedge Funds Weigh In On Leap Therapeutics

Large investors have recently made changes to their positions in the business. Simplify Asset Management Inc. grew its holdings in Leap Therapeutics by 13.8% during the 3rd quarter. Simplify Asset Management Inc. now owns 975,608 shares of the company’s stock valued at $443,000 after buying an additional 118,248 shares in the last quarter. Monaco Asset Management SAM grew its stake in Leap Therapeutics by 410.0% during the first quarter. Monaco Asset Management SAM now owns 1,050,000 shares of the company’s stock valued at $320,000 after acquiring an additional 844,126 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Leap Therapeutics by 470.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,280,531 shares of the company’s stock valued at $389,000 after acquiring an additional 1,056,047 shares during the last quarter. Finally, 683 Capital Management LLC lifted its stake in Leap Therapeutics by 7.4% in the 1st quarter. 683 Capital Management LLC now owns 1,449,900 shares of the company’s stock worth $442,000 after purchasing an additional 99,900 shares in the last quarter. 30.46% of the stock is currently owned by hedge funds and other institutional investors.

Leap Therapeutics Stock Performance

Shares of NASDAQ LPTX traded up $0.48 during midday trading on Wednesday, hitting $0.92. 152,519,553 shares of the company’s stock traded hands, compared to its average volume of 2,453,665. The stock has a market capitalization of $38.08 million, a price-to-earnings ratio of -0.52 and a beta of -0.06. The firm has a fifty day moving average of $0.45 and a 200 day moving average of $0.38. Leap Therapeutics has a 1 year low of $0.22 and a 1 year high of $3.61.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.16. On average, equities analysts anticipate that Leap Therapeutics will post -1.84 earnings per share for the current year.

About Leap Therapeutics

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead product candidates include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers; and FL-301, a monoclonal antibody that targets cells that express Claudin18.2 on their cell surface and is in phase II clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.