Cypherpunk Technologies (NASDAQ:CYPH) Share Price Passes Below 50-Day Moving Average – What’s Next?

Cypherpunk Technologies (NASDAQ:CYPH)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.74 and traded as low as $0.6074. Cypherpunk Technologies shares last traded at $0.6368, with a volume of 1,109,176 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CYPH. Cantor Fitzgerald upgraded Cypherpunk Technologies to a “strong-buy” rating in a research report on Friday, July 3rd. Wall Street Zen upgraded Cypherpunk Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings lowered Cypherpunk Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cypherpunk Technologies has an average rating of “Moderate Buy” and an average price target of $0.90.

Cypherpunk Technologies Stock Performance

The business’s fifty day moving average is $0.74 and its two-hundred day moving average is $0.80. The company has a market cap of $67.79 million, a P/E ratio of -31.82 and a beta of 0.09.

Cypherpunk Technologies (NASDAQ:CYPH) last issued its earnings results on Thursday, May 14th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.42).

Institutional Investors Weigh In On Cypherpunk Technologies

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of Cypherpunk Technologies during the 4th quarter worth $37,000. LPL Financial LLC purchased a new stake in Cypherpunk Technologies in the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd bought a new position in Cypherpunk Technologies during the 4th quarter worth about $44,000. Sequoia Financial Advisors LLC bought a new position in Cypherpunk Technologies during the 4th quarter worth about $56,000. Finally, HighTower Advisors LLC purchased a new position in Cypherpunk Technologies during the 4th quarter valued at about $59,000. 30.46% of the stock is currently 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.