Leap Therapeutics, Inc. (NASDAQ:LPTX) Short Interest Down 18.5% in March

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,540,000 shares, a decline of 18.5% from the February 28th total of 1,890,000 shares. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 716,500 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

LPTX has been the topic of a number of analyst reports. Baird R W lowered shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. HC Wainwright reissued a “neutral” rating on shares of Leap Therapeutics in a research report on Thursday, March 27th. Finally, Robert W. Baird cut Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $1.25 in a report on Wednesday, January 29th.

Institutional Trading of Leap Therapeutics

Large investors have recently bought and sold shares of the business. Prosperity Wealth Management Inc. acquired a new stake in shares of Leap Therapeutics in the 4th quarter valued at approximately $63,000. HighTower Advisors LLC bought a new position in Leap Therapeutics in the 3rd quarter valued at approximately $65,000. Jane Street Group LLC acquired a new stake in Leap Therapeutics in the fourth quarter valued at approximately $107,000. Dauntless Investment Group LLC bought a new stake in shares of Leap Therapeutics during the fourth quarter worth $144,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Leap Therapeutics by 1,668,066.7% during the fourth quarter. NewEdge Advisors LLC now owns 50,045 shares of the company’s stock worth $144,000 after buying an additional 50,042 shares in the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

Leap Therapeutics Trading Down 3.6 %

Shares of NASDAQ:LPTX opened at $0.31 on Tuesday. The firm has a 50 day moving average of $0.64 and a 200-day moving average of $2.14. Leap Therapeutics has a 12 month low of $0.28 and a 12 month high of $4.79. The stock has a market capitalization of $11.69 million, a PE ratio of -0.16 and a beta of 0.35.

Leap Therapeutics (NASDAQ:LPTX) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. On average, research analysts predict that Leap Therapeutics will post -1.84 EPS for the current fiscal year.

About Leap Therapeutics

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead product candidates include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers; and FL-301, a monoclonal antibody that targets cells that express Claudin18.2 on their cell surface and is in phase II clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.