Simplify Asset Management Inc. Buys 255,293 Shares of Leap Therapeutics, Inc. (NASDAQ:LPTX)

Simplify Asset Management Inc. increased its stake in shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) by 67.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 631,269 shares of the company’s stock after acquiring an additional 255,293 shares during the quarter. Simplify Asset Management Inc.’s holdings in Leap Therapeutics were worth $1,237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LPTX. Key Client Fiduciary Advisors LLC increased its holdings in shares of Leap Therapeutics by 22.2% during the second quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock worth $558,000 after purchasing an additional 51,838 shares during the period. Acadian Asset Management LLC boosted its position in Leap Therapeutics by 349.3% in the first quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock valued at $750,000 after buying an additional 219,563 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Leap Therapeutics by 111.7% during the first quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock worth $2,308,000 after buying an additional 457,904 shares during the last quarter. Institutional investors and hedge funds own 30.46% of the company’s stock.

Wall Street Analysts Forecast Growth

LPTX has been the topic of several recent research reports. Rodman & Renshaw began coverage on Leap Therapeutics in a report on Friday, June 28th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $5.50 price target on shares of Leap Therapeutics in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Leap Therapeutics has an average rating of “Buy” and a consensus target price of $10.40.

Leap Therapeutics Trading Down 1.4 %

LPTX stock opened at $2.84 on Friday. Leap Therapeutics, Inc. has a 1-year low of $1.24 and a 1-year high of $5.00. The stock has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.51. The firm has a market cap of $72.70 million, a PE ratio of -1.19 and a beta of 0.27.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.10). On average, analysts forecast that Leap Therapeutics, Inc. will post -1.84 earnings per share for the current year.

Leap Therapeutics Profile

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.