Cypherpunk Technologies (NASDAQ:CYPH) Stock Price Down 6.1% – Time to Sell?

Cypherpunk Technologies (NASDAQ:CYPH)’s share price was down 6.1% during trading on Wednesday . The company traded as low as $0.8133 and last traded at $0.8501. Approximately 1,903,393 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 2,548,861 shares. The stock had previously closed at $0.9050.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Cypherpunk Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cypherpunk Technologies presently has an average rating of “Sell”.

Cypherpunk Technologies Trading Up 9.5%

The stock has a 50 day simple moving average of $0.76 and a 200 day simple moving average of $0.95. The firm has a market capitalization of $87.58 million, a PE ratio of 13.90 and a beta of -0.10.

Hedge Funds Weigh In On Cypherpunk Technologies

Several hedge funds have recently made changes to their positions in CYPH. State Street Corp bought a new stake in Cypherpunk Technologies in the fourth quarter valued at $163,000. LPL Financial LLC bought a new stake in Cypherpunk Technologies in the fourth quarter valued at $38,000. Geode Capital Management LLC bought a new stake in Cypherpunk Technologies in the fourth quarter valued at $615,000. HighTower Advisors LLC bought a new stake in Cypherpunk Technologies in the fourth quarter valued at $59,000. Finally, Acadian Asset Management LLC boosted its holdings in 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 acquiring an additional 1,056,047 shares in the last quarter. 30.46% of the stock is owned by hedge funds and other institutional investors.

Cypherpunk Technologies Company Profile

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.