Leap Therapeutics Inc [NASDAQ: LPTX] closed the trading session at $3.12. The company report on April 11, 2024 at 8:30 AM that Leap Therapeutics Announces $40 Million Private Placement.
Net proceeds, along with existing cash, cash equivalents, and marketable securities are expected to extend cash runway into Q2 2026 and enable expansion of DKN-01 DeFianCe clinical trial and development program.
Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, today announced it has entered into a securities purchase agreement with a select group of institutional investors to issue and sell an aggregate of 12,660,993 shares of its common stock (“Common Stock”) at a price of $2.82 per share and pre-funded warrants to purchase 1,523,404 shares of Common Stock at a price of $2.819 per share of Common Stock issuable upon exercise of the pre-funded warrants, in a private placement. Leap anticipates the gross proceeds from the private placement will be approximately $40 million, before deducting any offering-related expenses. The financing is expected to close on April 15, 2024, subject to satisfaction of customary closing conditions.
The stocks have a year to date performance of -24.85 percent and weekly performance of 24.10 percent. The stock has been moved at 94.69 percent over the last six months. The stock has performed 24.60 percent around the most recent 30 days and changed -8.11 percent over the most recent 3-months.
If compared to the average trading volume of 240.12K shares, LPTX reached to a volume of 5668953 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Leap Therapeutics Inc [LPTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LPTX shares is $11.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LPTX stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Mizuho have made an estimate for Leap Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 04, 2021. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on June 04, 2021, representing the official price target for Leap Therapeutics Inc stock. Previously, the target price had yet another raise to $6, while Piper Sandler analysts kept a Overweight rating on LPTX stock.
The Average True Range (ATR) for Leap Therapeutics Inc is set at 0.38 The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 2.76.
LPTX stock trade performance evaluation
Leap Therapeutics Inc [LPTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.10. With this latest performance, LPTX shares gained by 24.60% in over the last four-week period, additionally plugging by 94.69% over the last 6 months – not to mention a rise of 3.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LPTX stock in for the last two-week period is set at 59.68, with the RSI for the last a single of trading hit 62.90, and the three-weeks RSI is set at 56.73 for Leap Therapeutics Inc [LPTX]. The present Moving Average for the last 50 days of trading for this stock 2.81, while it was recorded at 2.94 for the last single week of trading, and 2.52 for the last 200 days.
Leap Therapeutics Inc [LPTX]: An insightful look at the core fundamentals
Leap Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.64 and a Current Ratio set at 5.64.
Earnings per share (EPS) analysis for Leap Therapeutics Inc [LPTX] stock
With the latest financial reports released by the company, Leap Therapeutics Inc posted -3.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.98/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -226.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LPTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Leap Therapeutics Inc go to -2.49%.
Leap Therapeutics Inc [LPTX]: Institutional Ownership
The top three institutional holders of LPTX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in LPTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in LPTX stock with ownership which is approximately 5.8386%.
