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

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 8,000,000 shares, a growth of 17.5% from the December 15th total of 6,810,000 shares. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 21.1% of the company’s shares are short sold.

Checkpoint Therapeutics Stock Down 4.5 %

Checkpoint Therapeutics stock traded down $0.15 during trading hours on Friday, hitting $3.18. The stock had a trading volume of 592,705 shares, compared to its average volume of 2,262,361. The stock’s 50-day moving average price is $3.62 and its 200-day moving average price is $2.91. The stock has a market capitalization of $155.28 million, a P/E ratio of -1.73 and a beta of 1.36. Checkpoint Therapeutics has a 12-month low of $1.38 and a 12-month high of $4.50.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on CKPT shares. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Checkpoint Therapeutics in a research report on Monday, December 16th. D. Boral Capital initiated coverage on shares of Checkpoint Therapeutics in a report on Monday, January 13th. They set a “buy” rating and a $9.00 target price for the company. Finally, Lake Street Capital boosted their price target on Checkpoint Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 16th.

Insider Activity at Checkpoint Therapeutics

In other news, CEO James F. Oliviero III sold 220,230 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $3.38, for a total transaction of $744,377.40. Following the transaction, the chief executive officer now directly owns 3,194,583 shares of the company’s stock, valued at approximately $10,797,690.54. The trade was a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Garrett Gray sold 268,432 shares of Checkpoint Therapeutics stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $4.01, for a total transaction of $1,076,412.32. Following the sale, the chief financial officer now directly owns 1,032,754 shares in the company, valued at $4,141,343.54. The trade was a 20.63 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CKPT. Choreo LLC raised its holdings in shares of Checkpoint Therapeutics by 12.2% during 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 last quarter. XTX Topco Ltd bought a new stake in Checkpoint Therapeutics in the 2nd quarter worth approximately $34,000. B. Riley Wealth Advisors Inc. raised its stake in Checkpoint Therapeutics by 366.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 229,200 shares of the company’s stock valued at $493,000 after buying an additional 180,050 shares during the last quarter. PVG Asset Management Corp bought a new position in shares of Checkpoint Therapeutics during the 2nd quarter valued at $295,000. Finally, Magnus Financial Group LLC boosted its stake in shares of Checkpoint Therapeutics by 12.9% in the 3rd quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock worth $78,000 after buying an additional 4,000 shares during the last quarter. 22.00% of the stock is owned by 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.