Leap Therapeutics (NASDAQ:LPTX) Trading Up 368.6% – Still a Buy?

Leap Therapeutics, Inc. (NASDAQ:LPTX)’s stock price was up 368.6% during trading on Monday . The company traded as high as $2.54 and last traded at $2.05. Approximately 760,562,526 shares changed hands during mid-day trading, an increase of 1,770% from the average daily volume of 40,666,756 shares. The stock had previously closed at $0.4375.

Leap Therapeutics Price Performance

The company has a fifty day moving average price of $2.05. The firm has a market cap of $84.95 million, a PE ratio of -1.68 and a beta of -0.06.

Institutional Investors Weigh In On Leap Therapeutics

An institutional investor recently raised its position in Leap Therapeutics stock. Bank of America Corp DE grew its stake in Leap Therapeutics, Inc. (NASDAQ:LPTX) by 451,295.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,444,466 shares of the company’s stock after purchasing an additional 1,444,146 shares during the period. Bank of America Corp DE owned approximately 3.49% of Leap Therapeutics worth $656,000 at the end of the most recent reporting period. 30.46% of the stock is owned by hedge funds and other institutional investors.

About Leap Therapeutics

Leap Therapeutics, Inc (NASDAQ: LPTX) is a clinical-stage biotechnology company focused on the discovery and development of targeted therapies and immuno-oncology treatments for patients with cancer. The company advances candidates through preclinical and clinical development with the goal of addressing unmet needs in solid tumors by modulating tumor biology and antitumor immune responses.

Leap’s research and development strategy emphasizes biologic therapeutic agents and combination approaches intended to enhance efficacy in difficult-to-treat cancers.