Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Sees Large Decrease in Short Interest

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 5,110,000 shares, a drop of 28.5% from the February 28th total of 7,150,000 shares. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is currently 2.1 days. Approximately 14.2% of the company’s stock are sold short.

Checkpoint Therapeutics Price Performance

CKPT stock traded down $0.01 during midday trading on Monday, reaching $4.04. The company had a trading volume of 1,061,693 shares, compared to its average volume of 1,123,904. The firm has a 50-day moving average price of $3.32 and a 200-day moving average price of $3.27. The company has a market capitalization of $197.04 million, a P/E ratio of -2.19 and a beta of 1.41. Checkpoint Therapeutics has a 1 year low of $1.38 and a 1 year high of $4.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its earnings results on Friday, March 28th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.47). On average, equities analysts predict that Checkpoint Therapeutics will post -0.94 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on CKPT shares. Lake Street Capital reissued a “hold” rating and set a $4.10 price objective (down from $7.00) on shares of Checkpoint Therapeutics in a report on Monday, March 10th. D. Boral Capital reaffirmed a “buy” rating and issued a $4.80 price target on shares of Checkpoint Therapeutics in a report on Monday. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $4.10 target price on shares of Checkpoint Therapeutics in a report on Tuesday, March 11th.

Insider Buying and Selling at Checkpoint Therapeutics

In related news, CFO William Garrett Gray sold 74,110 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $3.67, for a total transaction of $271,983.70. Following the completion of the sale, the chief financial officer now directly owns 1,458,644 shares of the company’s stock, valued at approximately $5,353,223.48. This trade represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James F. Oliviero III sold 9,233 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $3.41, for a total transaction of $31,484.53. Following the transaction, the chief executive officer now owns 3,785,350 shares of the company’s stock, valued at approximately $12,908,043.50. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,674 shares of company stock worth $336,011. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Checkpoint Therapeutics

A number of large investors have recently modified their holdings of CKPT. Tower Research Capital LLC TRC boosted its stake in Checkpoint Therapeutics by 157.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,616 shares of the company’s stock worth $34,000 after buying an additional 6,486 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Checkpoint Therapeutics during the 4th quarter valued at $32,000. PUREfi Wealth LLC purchased a new position in Checkpoint Therapeutics in the 4th quarter worth $32,000. SBI Securities Co. Ltd. purchased a new position in Checkpoint Therapeutics in the 4th quarter worth $32,000. Finally, Stifel Financial Corp bought a new stake in Checkpoint Therapeutics in the fourth quarter worth $32,000. 22.00% of the stock is 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.