Cypherpunk Technologies Sees Unusually Large Options Volume (NASDAQ:CYPH)

Cypherpunk Technologies (NASDAQ:CYPH) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 9,339 call options on the company. This represents an increase of approximately 653% compared to the average volume of 1,240 call options.

Cypherpunk Technologies Stock Performance

Cypherpunk Technologies stock traded up $0.21 during trading hours on Wednesday, reaching $1.02. 5,779,128 shares of the stock were exchanged, compared to its average volume of 3,275,719. Cypherpunk Technologies has a 52-week low of $0.26 and a 52-week high of $3.70. The stock has a market cap of $109.92 million, a P/E ratio of 1.82 and a beta of 0.09. The firm’s 50 day moving average is $0.68 and its 200 day moving average is $0.78.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter.

Hedge Funds Weigh In On Cypherpunk Technologies

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

Analyst Ratings Changes

CYPH has been the subject of several research analyst reports. Cantor Fitzgerald increased their price objective on Cypherpunk Technologies from $0.90 to $1.60 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings upgraded shares of Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.60.

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.