Cypherpunk Technologies (NASDAQ:CYPH) Stock Price Up 0.9% - Time to Buy?

Key Points

• Cypherpunk Technologies shares rose 0.9% to $0.6268, despite trading below both its 50-day ($0.80) and 200-day ($0.82) moving averages. Trading volume was approximately 763,000 shares, 53% below the average.
• Analyst sentiment is mixed but averages to a “Moderate Buy”, with one Strong Buy and one Sell rating; the consensus price target of $0.90 implies substantial upside.
• The company reported a quarterly loss of $0.46 per share, far worse than the expected $0.04 loss. Cypherpunk is developing cancer therapies while pursuing a digital-asset treasury strategy focused on Zcash.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) traded up 0.9% on Monday . The company traded as high as $0.6550 and last traded at $0.6268. Approximately 763,162 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,638,020 shares. The stock had previously closed at $0.6215.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CYPH. Wall Street Zen upgraded shares of Cypherpunk Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. Weiss Ratings upgraded shares of Cypherpunk Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 10th. Finally, Cantor Fitzgerald raised Cypherpunk Technologies to a "strong-buy" rating in a report on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $0.90.

Cypherpunk Technologies Stock Up 0.9%

The firm has a fifty day moving average of $0.80 and a 200-day moving average of $0.82. The firm has a market cap of $66.73 million, a P/E ratio of -31.32 and a beta of 0.07.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.42).

Hedge Funds Weigh In On Cypherpunk Technologies

Several large investors have recently bought and sold shares of CYPH. Millennium Management LLC acquired a new stake in Cypherpunk Technologies during the 4th quarter worth $37,000. LPL Financial LLC acquired a new position in shares of Cypherpunk Technologies in the 4th quarter valued at $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cypherpunk Technologies in the 4th quarter worth $44,000. Sequoia Financial Advisors LLC bought a new position in shares of Cypherpunk Technologies in the 4th quarter worth $56,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Cypherpunk Technologies during the fourth quarter worth $59,000. 30.46% of the stock is currently owned by institutional investors and hedge funds.

About Cypherpunk Technologies

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.

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