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

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Checkpoint Therapeutics

In related news, CEO James F. Oliviero III sold 10,331 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $3.15, for a total value of $32,542.65. Following the transaction, the chief executive officer now directly owns 3,775,019 shares of the company’s stock, valued at approximately $11,891,309.85. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Garrett Gray sold 74,110 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $3.67, for a total value of $271,983.70. Following the sale, the chief financial officer now owns 1,458,644 shares of the company’s stock, valued at $5,353,223.48. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,674 shares of company stock worth $336,011. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Checkpoint Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in shares of 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 during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Checkpoint Therapeutics in the 4th quarter worth about $32,000. PUREfi Wealth LLC bought a new position in shares of Checkpoint Therapeutics during the fourth quarter worth about $32,000. SBI Securities Co. Ltd. acquired a new stake in Checkpoint Therapeutics during the fourth quarter valued at approximately $32,000. Finally, Stifel Financial Corp acquired a new position in shares of Checkpoint Therapeutics in the 4th quarter worth approximately $32,000. 22.00% of the stock is owned by institutional investors and hedge funds.

Checkpoint Therapeutics Price Performance

Checkpoint Therapeutics stock opened at $4.04 on Tuesday. Checkpoint Therapeutics has a 12-month low of $1.38 and a 12-month high of $4.50. The company has a market capitalization of $197.29 million, a price-to-earnings ratio of -2.20 and a beta of 1.41. The firm’s fifty day moving average price is $3.33 and its 200 day moving average price is $3.28.

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 analysts’ consensus estimates of ($0.22) by ($0.47). Analysts forecast that Checkpoint Therapeutics will post -0.94 earnings per share for the current fiscal 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.