Leap Therapeutics (NASDAQ:LPTX) Stock Price Up 5%

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Leap Therapeutics Inc (NASDAQ:LPTX)’s stock price rose 5% during mid-day trading on Friday . The stock traded as high as $1.53 and last traded at $1.46, approximately 130,383 shares changed hands during trading. A decline of 77% from the average daily volume of 564,884 shares. The stock had previously closed at $1.39.

LPTX has been the topic of several recent research reports. ValuEngine upgraded Leap Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Leap Therapeutics from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Friday.

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 2.77. The stock has a 50-day moving average of $1.90 and a 200-day moving average of $1.73.

Leap Therapeutics (NASDAQ:LPTX) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.08. As a group, analysts expect that Leap Therapeutics Inc will post -1.39 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in shares of Leap Therapeutics by 63.3% in the first quarter. FMR LLC now owns 1,563,124 shares of the company’s stock worth $2,923,000 after buying an additional 606,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Leap Therapeutics by 183.4% in the second quarter. Vanguard Group Inc. now owns 555,195 shares of the company’s stock worth $994,000 after buying an additional 359,320 shares in the last quarter. Deutsche Bank AG raised its position in shares of Leap Therapeutics by 45.7% in the fourth quarter. Deutsche Bank AG now owns 124,338 shares of the company’s stock worth $248,000 after buying an additional 39,000 shares in the last quarter. BlackRock Inc. raised its position in shares of Leap Therapeutics by 40.0% in the second quarter. BlackRock Inc. now owns 34,233 shares of the company’s stock worth $61,000 after buying an additional 9,782 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Leap Therapeutics in the second quarter worth $42,000. Institutional investors own 8.76% of the company’s stock.

About Leap Therapeutics (NASDAQ:LPTX)

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops therapies for the treatment of cancer. Its clinical stage programs include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in Phase I/II clinical trial in patients with esophagogastric, biliary tract, gynecologic, and non-small cell lung cancers, as well as hepatocellular carcinoma, a type of liver cancer.

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