Leap Therapeutics (NASDAQ:LPTX) Trading 368.6% Higher – Should You Buy?

Leap Therapeutics, Inc. (NASDAQ:LPTX) traded up 368.6% during trading on Thursday . The stock traded as high as $2.54 and last traded at $2.05. 760,562,526 shares traded hands during mid-day trading, an increase of 1,770% from the average session volume of 40,666,756 shares. The stock had previously closed at $0.4375.

Analysts Set New Price Targets

Separately, Weiss Ratings began coverage on shares of Leap Therapeutics in a research report on Wednesday, November 12th. They issued a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Leap Therapeutics Stock Performance

The company has a market cap of $84.95 million, a P/E ratio of -1.68 and a beta of -0.06. The firm has a 50 day moving average price of $2.05.

Institutional Trading of Leap Therapeutics

A hedge fund recently raised its stake in Leap Therapeutics stock. Bank of America Corp DE raised its position in Leap Therapeutics, Inc. (NASDAQ:LPTX) by 451,295.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,444,466 shares of the company’s stock after buying an additional 1,444,146 shares during the quarter. Bank of America Corp DE owned 3.49% of Leap Therapeutics worth $656,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 30.46% of the company’s stock.

Leap Therapeutics Company Profile

Leap Therapeutics, Inc (NASDAQ: LPTX) is a clinical-stage biotechnology company focused on the discovery and development of targeted therapies and immuno-oncology treatments for patients with cancer. The company advances candidates through preclinical and clinical development with the goal of addressing unmet needs in solid tumors by modulating tumor biology and antitumor immune responses.

Leap’s research and development strategy emphasizes biologic therapeutic agents and combination approaches intended to enhance efficacy in difficult-to-treat cancers.