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

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of a large decline in short interest in 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. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is currently 2.1 days. Approximately 14.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

CKPT has been the subject of a number of recent analyst reports. Lake Street Capital restated a “hold” rating and set a $4.10 target price (down previously from $7.00) on shares of Checkpoint Therapeutics in a report on Monday, March 10th. D. Boral Capital restated a “buy” rating and issued a $4.80 price objective 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 research note on Tuesday, March 11th.

Insiders Place Their Bets

In related news, CEO James F. Oliviero III sold 9,233 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was 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 in the company, valued at $12,908,043.50. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William Garrett Gray sold 74,110 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $3.67, for a total value of $271,983.70. Following the transaction, the chief financial officer now directly owns 1,458,644 shares of the company’s stock, valued at $5,353,223.48. The trade was a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,674 shares of company stock valued at $336,011 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Checkpoint Therapeutics

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Checkpoint Therapeutics by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 445,111 shares of the company’s stock valued at $1,425,000 after buying an additional 17,460 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Checkpoint Therapeutics by 226.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 425,000 shares of the company’s stock worth $1,360,000 after purchasing an additional 295,000 shares in the last quarter. 683 Capital Management LLC purchased a new position in shares of Checkpoint Therapeutics in the fourth quarter worth $522,000. HB Wealth Management LLC lifted its holdings in shares of Checkpoint Therapeutics by 96.9% during the fourth quarter. HB Wealth Management LLC now owns 153,560 shares of the company’s stock valued at $513,000 after purchasing an additional 75,560 shares in the last quarter. Finally, PVG Asset Management Corp boosted its position in shares of Checkpoint Therapeutics by 9.2% during the third quarter. PVG Asset Management Corp now owns 149,870 shares of the company’s stock valued at $336,000 after buying an additional 12,676 shares during the last quarter. 22.00% of the stock is owned by institutional investors.

Checkpoint Therapeutics Price Performance

CKPT stock traded down $0.01 during midday trading on Monday, hitting $4.04. The stock had a trading volume of 1,061,693 shares, compared to its average volume of 1,123,904. The business has a 50-day moving average of $3.32 and a two-hundred day moving average of $3.27. The firm has a market cap of $197.04 million, a price-to-earnings ratio of -2.19 and a beta of 1.41. Checkpoint Therapeutics has a 52-week low of $1.38 and a 52-week high of $4.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last issued its quarterly 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). Research analysts predict that Checkpoint Therapeutics will post -0.94 earnings per share for the current year.

About Checkpoint Therapeutics

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.