Cypherpunk Technologies (NASDAQ:CYPH) Trading 10.7% Higher – Here’s What Happened

Cypherpunk Technologies (NASDAQ:CYPH)’s stock price traded up 10.7% during mid-day trading on Wednesday . The company traded as high as $0.8994 and last traded at $0.8073. 3,104,766 shares changed hands during trading, an increase of 61% from the average session volume of 1,927,646 shares. The stock had previously closed at $0.7292.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cypherpunk Technologies in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Cypherpunk Technologies Stock Up 10.7%

The stock has a market capitalization of $72.64 million, a P/E ratio of 11.53 and a beta of -0.22. The business has a fifty day moving average price of $0.68 and a 200-day moving average price of $0.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new position in shares of Cypherpunk Technologies during the fourth quarter valued at $37,000. LPL Financial LLC bought a new position in Cypherpunk Technologies in the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in Cypherpunk Technologies in the fourth quarter valued at about $44,000. Sequoia Financial Advisors LLC bought a new position in Cypherpunk Technologies in the fourth quarter valued at about $56,000. Finally, HighTower Advisors LLC bought a new position in Cypherpunk Technologies in the fourth quarter valued at about $59,000. 30.46% of the stock is owned by 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.