Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Short Interest Down 28.5% in March

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the recipient of a large drop in short interest during the month of 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 daily trading volume, of 2,430,000 shares, the short-interest ratio is currently 2.1 days. Approximately 14.2% of the shares of the company are sold short.

Insider Activity at Checkpoint Therapeutics

In other 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 transaction, the chief financial officer now directly owns 1,458,644 shares of the company’s stock, valued at approximately $5,353,223.48. This represents a 4.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James F. Oliviero III sold 10,331 shares of Checkpoint Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $3.15, for a total value of $32,542.65. Following the completion of the sale, the chief executive officer now owns 3,775,019 shares in the company, valued at approximately $11,891,309.85. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,674 shares of company stock worth $336,011 in the last three months. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Checkpoint Therapeutics

A number of large investors have recently bought and sold shares of CKPT. Virtu Financial LLC acquired a new position in shares of Checkpoint Therapeutics in the third quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in Checkpoint Therapeutics during the 4th quarter worth about $32,000. PUREfi Wealth LLC acquired a new position in Checkpoint Therapeutics in the 4th quarter valued at about $32,000. Stifel Financial Corp purchased a new position in Checkpoint Therapeutics in the 4th quarter valued at about $32,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Checkpoint Therapeutics during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CKPT. D. Boral Capital reissued a “buy” rating and set a $4.80 price objective on shares of Checkpoint Therapeutics in a report on Monday. Lake Street Capital reissued a “hold” rating and set a $4.10 price target (down previously from $7.00) on shares of Checkpoint Therapeutics in a research note on Monday, March 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $4.10 price objective on shares of Checkpoint Therapeutics in a research note on Tuesday, March 11th.

Checkpoint Therapeutics Stock Performance

Shares of NASDAQ CKPT opened at $4.04 on Tuesday. The company’s 50-day moving average price is $3.33 and its 200 day moving average price is $3.28. Checkpoint Therapeutics has a 52 week low of $1.38 and a 52 week high of $4.50. The stock has a market cap of $197.29 million, a price-to-earnings ratio of -2.20 and a beta of 1.41.

Checkpoint Therapeutics (NASDAQ:CKPT) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.47). As a group, research analysts expect that Checkpoint Therapeutics will post -0.94 earnings per share for the current year.

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.