Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Short Interest Update

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 2,960,000 shares, a decrease of 22.1% from the April 30th total of 3,800,000 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily trading volume, of 2,690,000 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CKPT shares. HC Wainwright reissued a “neutral” rating and set a $4.10 target price on shares of Checkpoint Therapeutics in a report on Tuesday, March 11th. Lake Street Capital reissued a “hold” rating and set a $4.10 price objective (down previously from $7.00) on shares of Checkpoint Therapeutics in a report on Monday, March 10th. Finally, D. Boral Capital restated a “buy” rating and set a $4.80 price objective on shares of Checkpoint Therapeutics in a research report on Monday, March 31st.

Insider Activity at Checkpoint Therapeutics

In other news, CEO James F. Oliviero III sold 15,090 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $4.04, for a total transaction of $60,963.60. Following the transaction, the chief executive officer now owns 3,759,929 shares in the company, valued at approximately $15,190,113.16. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Garrett Gray sold 12,322 shares of Checkpoint Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $4.05, for a total value of $49,904.10. Following the sale, the chief financial officer now directly owns 1,446,322 shares of the company’s stock, valued at approximately $5,857,604.10. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Trading of Checkpoint Therapeutics

Hedge funds have recently bought and sold shares of the business. Beryl Capital Management LLC purchased a new stake in Checkpoint Therapeutics during the first quarter worth about $24,540,000. Gabelli Funds LLC purchased a new stake in shares of Checkpoint Therapeutics during the 1st quarter worth approximately $4,468,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Checkpoint Therapeutics during the 1st quarter worth approximately $4,120,000. Groupe la Francaise bought a new stake in shares of Checkpoint Therapeutics in the 1st quarter worth approximately $3,394,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Checkpoint Therapeutics in the first quarter valued at approximately $2,545,000. 22.00% of the stock is currently owned by institutional investors.

Checkpoint Therapeutics Stock Performance

Checkpoint Therapeutics stock remained flat at $4.26 during mid-day trading on Tuesday. The stock has a fifty day simple moving average of $4.10 and a 200-day simple moving average of $3.68. The stock has a market cap of $370.71 million, a price-to-earnings ratio of -2.32 and a beta of 1.18. Checkpoint Therapeutics has a one year low of $1.80 and a one year high of $4.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). As a group, equities analysts anticipate that Checkpoint Therapeutics will post -0.94 earnings per share for the current fiscal 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.