Cypherpunk Technologies (NASDAQ:CYPH) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cypherpunk (NASDAQ:CYPH) from "sell" to "hold," but Weiss Ratings reiterated a "sell" and the stock's consensus remains "Reduce" with an average target price of $3.38.
• Shares plunged about 19.7%, opening at $1.83, leaving a market cap of roughly $75.8 million and a 52‑week range of $0.22 to $3.70 (50‑/200‑day SMAs $0.83/$0.51).
• Cypherpunk reported a quarterly loss per share of $0.08 versus a consensus loss of $0.24 and $0.21M in revenue, though analysts still forecast a -$1.84 EPS for the current year.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Tuesday.

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Cypherpunk Technologies in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $3.38.

Cypherpunk Technologies Trading Down 19.7%

Shares of CYPH opened at $1.83 on Tuesday. The company has a market cap of $75.84 million, a price-to-earnings ratio of -1.50 and a beta of -0.06. Cypherpunk Technologies has a 1-year low of $0.22 and a 1-year high of $3.70. The company's fifty day simple moving average is $0.83 and its 200 day simple moving average is $0.51.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.16. The firm had revenue of $0.21 million during the quarter. As a group, research analysts forecast that Cypherpunk Technologies will post -1.84 earnings per share for the current year.

Institutional Trading of Cypherpunk Technologies

A number of hedge funds have recently modified their holdings of the stock. 683 Capital Management LLC grew its stake in Cypherpunk Technologies by 7.4% in the 1st quarter. 683 Capital Management LLC now owns 1,449,900 shares of the company's stock valued at $442,000 after buying an additional 99,900 shares during the last quarter. Monaco Asset Management SAM boosted its holdings in shares of Cypherpunk Technologies by 410.0% during the first quarter. Monaco Asset Management SAM now owns 1,050,000 shares of the company's stock worth $320,000 after acquiring an additional 844,126 shares during the period. Simplify Asset Management Inc. boosted its holdings in shares of Cypherpunk Technologies by 13.8% during the third quarter. Simplify Asset Management Inc. now owns 975,608 shares of the company's stock worth $443,000 after acquiring an additional 118,248 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Cypherpunk Technologies by 470.4% in the first quarter. Acadian Asset Management LLC now owns 1,280,531 shares of the company's stock valued at $389,000 after purchasing an additional 1,056,047 shares during the last quarter. Institutional investors and hedge funds own 30.46% of the company's stock.

About Cypherpunk Technologies

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.

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