Cypherpunk Technologies (NASDAQ:CYPH) Trading 24.6% Higher – What’s Next?

Cypherpunk Technologies (NASDAQ:CYPH) traded up 24.6% during trading on Monday . The stock traded as high as $0.85 and last traded at $0.81. 15,654,990 shares were traded during mid-day trading, an increase of 113% from the average session volume of 7,346,670 shares. The stock had previously closed at $0.6502.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded Cypherpunk Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Cypherpunk Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Cypherpunk Technologies currently has a consensus rating of “Sell”.

Cypherpunk Technologies Stock Performance

The stock has a market cap of $86.23 million, a P/E ratio of -40.48 and a beta of -0.02. The stock has a 50-day moving average price of $0.97 and a 200-day moving average price of $0.94.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.42).

Hedge Funds Weigh In On Cypherpunk Technologies

A number of large investors have recently modified their holdings of CYPH. Simplify Asset Management Inc. purchased a new position in shares of Cypherpunk Technologies during the 4th quarter valued at about $2,172,000. Acadian Asset Management LLC raised its holdings in shares of Cypherpunk Technologies by 470.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,280,531 shares of the company’s stock valued at $389,000 after buying an additional 1,056,047 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Cypherpunk Technologies during the 1st quarter valued at about $576,000. Geode Capital Management LLC purchased a new position in shares of Cypherpunk Technologies during the 4th quarter valued at about $615,000. Finally, State Street Corp purchased a new position in Cypherpunk Technologies in the 4th quarter worth approximately $163,000. 30.46% of the stock is owned by hedge funds and other institutional investors.

Cypherpunk Technologies Company Profile

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.