Insider Selling: Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) CEO Sells 220,230 Shares of Stock

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) CEO James F. Oliviero III sold 220,230 shares of Checkpoint Therapeutics stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $3.38, for a total value of $744,377.40. Following the transaction, the chief executive officer now owns 3,194,583 shares in the company, valued at approximately $10,797,690.54. The trade was a 6.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Checkpoint Therapeutics Price Performance

Shares of NASDAQ:CKPT traded up $0.38 during midday trading on Friday, reaching $3.75. 2,234,921 shares of the company’s stock were exchanged, compared to its average volume of 675,598. The stock has a market cap of $183.12 million, a price-to-earnings ratio of -2.04 and a beta of 1.34. Checkpoint Therapeutics, Inc. has a fifty-two week low of $1.38 and a fifty-two week high of $4.50. The firm’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $2.70.

Checkpoint Therapeutics (NASDAQ:CKPT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). Equities research analysts predict that Checkpoint Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CKPT. Lake Street Capital lifted their price target on Checkpoint Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Checkpoint Therapeutics in a research note on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Checkpoint Therapeutics during the 3rd quarter worth about $30,000. XTX Topco Ltd purchased a new stake in Checkpoint Therapeutics during the second quarter worth about $34,000. Gladstone Institutional Advisory LLC increased its stake in Checkpoint Therapeutics by 141.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 35,000 shares of the company’s stock worth $78,000 after purchasing an additional 20,500 shares during the period. Magnus Financial Group LLC lifted its position in shares of Checkpoint Therapeutics by 12.9% during the third quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock worth $78,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Choreo LLC boosted its stake in shares of Checkpoint Therapeutics by 12.2% in the second quarter. Choreo LLC now owns 65,002 shares of the company’s stock valued at $133,000 after purchasing an additional 7,080 shares during the period. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Checkpoint Therapeutics Company Profile

Checkpoint Therapeutics, Inc, a clinical-stage immunotherapy and targeted oncology company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers in the United States and internationally. The company's lead antibody product candidate is Cosibelimab, which is in Phase 1 clinical trial to treat patients with selected recurrent or metastatic cancers; and CK-302, a product candidate in preclinical trials for hematological malignancies and solid tumors.