Traders Purchase Large Volume of Cypherpunk Technologies Put Options (NASDAQ:CYPH)

Cypherpunk Technologies (NASDAQ:CYPH) was the recipient of unusually large options trading on Friday. Stock investors bought 4,236 put options on the stock. This is an increase of approximately 104% compared to the typical volume of 2,075 put options.

Analyst Upgrades and Downgrades

CYPH has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1.60 price target on shares of Cypherpunk Technologies in a report on Thursday, August 27th. Weiss Ratings upgraded shares of Cypherpunk Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised shares of Cypherpunk Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1.60.

Insider Buying and Selling

In other news, Director Thomas Dietz sold 20,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1.72, for a total value of $34,400.00. Following the completion of the transaction, the director owned 132,500 shares of the company’s stock, valued at approximately $227,900. This represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Cypherpunk Technologies

Several large investors have recently modified their holdings of CYPH. Millennium Management LLC bought a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $37,000. LPL Financial LLC bought a new position in Cypherpunk Technologies during the 4th quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new position in Cypherpunk Technologies during the 4th quarter worth $44,000. Sequoia Financial Advisors LLC acquired a new position in Cypherpunk Technologies during the 4th quarter worth about $56,000. Finally, HighTower Advisors LLC acquired a new position in Cypherpunk Technologies during the 4th quarter worth about $59,000. Institutional investors own 30.46% of the company’s stock.

Cypherpunk Technologies Stock Down 3.7%

Shares of CYPH stock traded down $0.09 during mid-day trading on Friday, reaching $2.19. 5,265,259 shares of the stock traded hands, compared to its average volume of 3,954,247. The company has a market cap of $235.46 million, a price-to-earnings ratio of 3.90 and a beta of 0.33. The stock’s fifty day simple moving average is $0.91 and its two-hundred day simple moving average is $0.86. Cypherpunk Technologies has a 1-year low of $0.27 and a 1-year high of $3.70.

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

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.