Leap Therapeutics, Inc. (NASDAQ:LPTX) Short Interest Up 50.7% in December

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,140,000 shares, an increase of 50.7% from the November 30th total of 1,420,000 shares. Currently, 7.5% of the shares of the company are short sold. Based on an average daily trading volume, of 352,300 shares, the short-interest ratio is currently 6.1 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of Leap Therapeutics in a report on Friday, November 15th.

Leap Therapeutics Stock Performance

LPTX traded down $0.03 on Monday, reaching $2.92. The company had a trading volume of 214,172 shares, compared to its average volume of 254,062. The company’s fifty day moving average is $3.13 and its 200 day moving average is $2.65. The stock has a market cap of $111.89 million, a P/E ratio of -1.51 and a beta of 0.21. Leap Therapeutics has a fifty-two week low of $1.68 and a fifty-two week high of $5.00.

Institutional Trading of Leap Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Simplify Asset Management Inc. boosted its holdings in Leap Therapeutics by 67.9% in the 2nd quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock valued at $1,237,000 after purchasing an additional 255,293 shares during the period. Marshall Wace LLP raised its position in shares of Leap Therapeutics by 268.2% in the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after buying an additional 58,094 shares in the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in shares of Leap Therapeutics by 13.0% in the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock valued at $827,000 after buying an additional 37,067 shares during the period. Valence8 US LP acquired a new stake in Leap Therapeutics during the third quarter worth approximately $48,000. Finally, HighTower Advisors LLC bought a new position in Leap Therapeutics during the 3rd quarter worth $65,000. 30.46% of the stock is owned by institutional investors and hedge funds.

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.