Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 11,410,000 shares, an increase of 152.4% from the September 15th total of 4,520,000 shares. Based on an average daily volume of 5,560,000 shares, the short-interest ratio is presently 2.1 days.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Leap Therapeutics by 6.4% during the first quarter. BlackRock Inc. now owns 211,968 shares of the company’s stock valued at $403,000 after buying an additional 12,804 shares during the last quarter. Virtu Financial LLC bought a new position in Leap Therapeutics in the first quarter worth about $32,000. McAdam LLC increased its holdings in shares of Leap Therapeutics by 95.8% during the second quarter. McAdam LLC now owns 36,000 shares of the company’s stock valued at $51,000 after acquiring an additional 17,613 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Leap Therapeutics by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 367,321 shares of the company’s stock worth $602,000 after buying an additional 17,880 shares during the period. Finally, Barclays PLC acquired a new position in Leap Therapeutics in the 1st quarter valued at $41,000. 36.22% of the stock is currently owned by institutional investors.
LPTX stock traded up $0.04 during midday trading on Thursday, reaching $3.36. The company had a trading volume of 17,111 shares, compared to its average volume of 13,274,422. Leap Therapeutics has a 1 year low of $1.33 and a 1 year high of $4.17. The firm has a 50-day moving average price of $2.35 and a 200-day moving average price of $1.89.
LPTX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Leap Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research report on Thursday, August 5th. Mizuho started coverage on shares of Leap Therapeutics in a report on Monday, October 4th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Raymond James lifted their price objective on shares of Leap Therapeutics from $3.00 to $4.00 and gave the company an “outperform” rating in a report on Monday, September 13th.
About Leap Therapeutics
Leap Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in developing novel therapies designed to treat patients with cancer. Its clinical stage programs are DKN-01, which is a monoclonal antibody that inhibits Dickkopf-related protein 1, or DKK1 and TRX518, which is a monoclonal antibody targeting the glucocorticoid-induced tumor necrosis factor-related receptor, or GITR.
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