Cypherpunk Technologies (NASDAQ:CYPH) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Cypherpunk Technologies (NASDAQ:CYPH) had its target price increased by research analysts at Cantor Fitzgerald from $0.90 to $1.60 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 98.66% from the stock’s previous close.

A number of other research firms have also commented on CYPH. Weiss Ratings upgraded shares of Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Wall Street Zen upgraded Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.60.

Cypherpunk Technologies Stock Performance

Shares of NASDAQ CYPH opened at $0.81 on Wednesday. The stock has a market cap of $86.79 million, a PE ratio of 1.44 and a beta of 0.09. The business has a fifty day moving average of $0.68 and a two-hundred day moving average of $0.78. Cypherpunk Technologies has a 52-week low of $0.26 and a 52-week high of $3.70.

Cypherpunk Technologies (NASDAQ:CYPH) last posted its earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter.

Institutional Investors Weigh In On Cypherpunk Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. acquired a new stake in shares of Cypherpunk Technologies during the 4th quarter worth approximately $2,172,000. Acadian Asset Management LLC lifted its holdings in Cypherpunk Technologies by 470.4% in the first 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 during the period. Renaissance Technologies LLC bought a new position in Cypherpunk Technologies in the first quarter valued at approximately $576,000. Geode Capital Management LLC bought a new stake in shares of Cypherpunk Technologies during the 4th quarter valued at $615,000. Finally, State Street Corp bought a new stake in shares of Cypherpunk Technologies during the 4th quarter valued at $163,000. Institutional investors and hedge funds own 30.46% of the company’s stock.

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.