Leap Therapeutics (NASDAQ:LPTX) Downgraded by Robert W. Baird to “Neutral”

Robert W. Baird lowered shares of Leap Therapeutics (NASDAQ:LPTX) from an outperform rating to a neutral rating in a report issued on Wednesday morning, MarketBeat reports. The firm currently has $1.25 target price on the stock, down from their prior target price of $9.00.

Separately, HC Wainwright restated a “buy” rating and issued a $5.50 price target on shares of Leap Therapeutics in a report on Thursday, January 16th.

Leap Therapeutics Stock Down 12.1 %

Shares of Leap Therapeutics stock opened at $0.57 on Wednesday. The stock’s fifty day moving average is $2.82 and its two-hundred day moving average is $2.75. Leap Therapeutics has a 52 week low of $0.55 and a 52 week high of $4.79. The company has a market capitalization of $21.90 million, a PE ratio of -0.30 and a beta of 0.17.

Institutional Investors Weigh In On Leap Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Simplify Asset Management Inc. grew its position in shares of Leap Therapeutics by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after buying an additional 425,626 shares in the last quarter. Exome Asset Management LLC bought a new position in Leap Therapeutics during the 3rd quarter worth about $264,000. Marshall Wace LLP increased its position in Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after purchasing an additional 58,094 shares during the period. Geode Capital Management LLC raised its holdings in shares of Leap Therapeutics by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after purchasing an additional 50,194 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its position in shares of Leap Therapeutics by 12.2% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after purchasing an additional 39,330 shares during the period. 30.46% of the stock is owned by institutional investors.

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.