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

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

Analyst Upgrades and Downgrades

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

Cypherpunk Technologies Trading Down 2.1%

The firm has a market capitalization of $63.97 million, a P/E ratio of -30.03 and a beta of 0.07. The business has a 50 day moving average of $0.79 and a 200-day moving average of $0.81.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Simplify Asset Management Inc. bought a new stake in shares of Cypherpunk Technologies in the 4th quarter valued at about $2,172,000. Sequoia Financial Advisors LLC bought a new position in Cypherpunk Technologies during the fourth quarter worth about $56,000. Key Client Fiduciary Advisors LLC acquired a new position in Cypherpunk Technologies during the fourth quarter worth approximately $98,000. Millennium Management LLC bought a new stake in Cypherpunk Technologies in the fourth quarter valued at approximately $37,000. Finally, State Street Corp bought a new stake in Cypherpunk Technologies in the fourth quarter valued at approximately $163,000. 30.46% of the stock is owned by institutional investors and hedge funds.

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.