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

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

Analyst Ratings Changes

Several analysts have weighed in on CKPT shares. D. Boral Capital reaffirmed a “buy” rating and set a $4.80 price objective (down from $9.00) on shares of Checkpoint Therapeutics in a research report on Monday, March 10th. 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 research report on Monday, March 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $4.10 target price on shares of Checkpoint Therapeutics in a research report on Tuesday, March 11th.

Checkpoint Therapeutics Stock Performance

Shares of CKPT traded up $0.01 during mid-day trading on Friday, reaching $4.04. The company had a trading volume of 522,554 shares, compared to its average volume of 1,124,079. Checkpoint Therapeutics has a 52 week low of $1.38 and a 52 week 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 has a 50-day moving average price of $3.32 and a 200 day moving average price of $3.26.

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

Insiders Place Their Bets

In related news, CFO William Garrett Gray sold 74,110 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $3.67, for a total value of $271,983.70. Following the completion of the sale, the chief financial officer now owns 1,458,644 shares of the company’s stock, valued at $5,353,223.48. This trade represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James F. Oliviero III sold 10,331 shares of Checkpoint Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $3.15, for a total transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,674 shares of company stock worth $336,011. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Checkpoint Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Checkpoint Therapeutics during the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Checkpoint Therapeutics in the fourth quarter worth $32,000. PUREfi Wealth LLC bought a new position in shares of Checkpoint Therapeutics during the fourth quarter valued at $32,000. Stifel Financial Corp purchased a new stake in shares of Checkpoint Therapeutics during the fourth quarter valued at $32,000. Finally, Ameriflex Group Inc. bought a new stake in Checkpoint Therapeutics in the 4th quarter worth about $32,000. 22.00% of the stock is currently owned by institutional investors.

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.