Robert W. Baird Downgrades Leap Therapeutics (NASDAQ:LPTX) to Neutral

Leap Therapeutics (NASDAQ:LPTX) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $1.25 target price on the stock, down from their prior target price of $9.00. Robert W. Baird’s target price suggests a potential upside of 140.71% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 price objective on shares of Leap Therapeutics in a report on Thursday, January 16th.

Leap Therapeutics Price Performance

NASDAQ LPTX opened at $0.52 on Wednesday. The firm’s fifty day moving average price is $2.78 and its 200 day moving average price is $2.74. Leap Therapeutics has a 12 month low of $0.51 and a 12 month high of $4.79. The company has a market capitalization of $19.90 million, a price-to-earnings ratio of -0.27 and a beta of 0.17.

Institutional Trading of Leap Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Simplify Asset Management Inc. increased its stake in Leap Therapeutics by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock valued at $2,716,000 after purchasing an additional 425,626 shares during the period. Key Client Fiduciary Advisors LLC grew its holdings in shares of Leap Therapeutics by 12.2% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after buying an additional 39,330 shares during the last quarter. Geode Capital Management LLC increased its position in Leap Therapeutics by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after acquiring an additional 50,194 shares during the period. Exome Asset Management LLC purchased a new stake in Leap Therapeutics during the 3rd quarter valued at approximately $264,000. Finally, Marshall Wace LLP lifted its position in Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after acquiring an additional 58,094 shares during the period. Hedge funds and other institutional investors own 30.46% of the company’s stock.

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.