Cypherpunk Technologies (NASDAQ:CYPH) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Cypherpunk Technologies (NASDAQ:CYPH)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Ratings Changes

CYPH has been the topic of several recent analyst reports. Cantor Fitzgerald raised 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 report on Saturday, July 4th. Finally, Weiss Ratings cut Cypherpunk Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $0.90.

Cypherpunk Technologies Stock Performance

The stock’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $0.79. The firm has a market capitalization of $78.04 million, a PE ratio of -36.63 and a beta of 0.09.

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

Institutional Trading of Cypherpunk Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in Cypherpunk Technologies during the 1st quarter valued at approximately $576,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cypherpunk Technologies in the 4th quarter worth approximately $44,000. Millennium Management LLC bought a new position in shares of Cypherpunk Technologies in the 4th quarter worth approximately $37,000. State Street Corp purchased a new position in shares of Cypherpunk Technologies in the 4th quarter valued at approximately $163,000. Finally, LPL Financial LLC purchased a new position in shares of Cypherpunk Technologies in the 4th quarter valued at approximately $38,000. 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.