Checkpoint Therapeutics (NASDAQ:CKPT) Shares Down 1%

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT)’s stock price was down 1% during trading on Tuesday . The stock traded as low as $1.42 and last traded at $1.44. Approximately 352,028 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 541,909 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of Checkpoint Therapeutics in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $22.60.

Checkpoint Therapeutics Stock Down 1.0 %

The business’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $2.06. The stock has a market cap of $51.22 million, a PE ratio of -0.43 and a beta of 0.99.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its earnings results on Friday, March 22nd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.36). The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.09 million. As a group, equities research analysts anticipate that Checkpoint Therapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CKPT. Park Avenue Securities LLC bought a new position in shares of Checkpoint Therapeutics in the third quarter worth approximately $102,000. PVG Asset Management Corp raised its holdings in shares of Checkpoint Therapeutics by 81.9% during the third quarter. PVG Asset Management Corp now owns 111,025 shares of the company’s stock valued at $189,000 after purchasing an additional 50,000 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Checkpoint Therapeutics by 104.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 85,000 shares of the company’s stock valued at $144,000 after purchasing an additional 43,500 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of Checkpoint Therapeutics by 46.1% during the third quarter. Armistice Capital LLC now owns 2,064,000 shares of the company’s stock valued at $3,509,000 after purchasing an additional 651,000 shares during the last quarter. Finally, Sabby Management LLC purchased a new position in shares of Checkpoint Therapeutics during the third quarter valued at approximately $349,000. Institutional investors own 22.00% of the company’s stock.

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.