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

Checkpoint Therapeutics, Inc. (NASDAQ:CKPTGet Rating) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,330,000 shares, a decline of 29.4% from the March 31st total of 4,720,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 4.8% of the company’s shares are sold short.

In related news, CEO James F. Oliviero III sold 86,353 shares of Checkpoint Therapeutics stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $1.79, for a total value of $154,571.87. Following the completion of the transaction, the chief executive officer now owns 2,873,291 shares in the company, valued at $5,143,190.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James F. Oliviero III sold 21,258 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $1.51, for a total transaction of $32,099.58. Following the sale, the chief executive officer now directly owns 2,838,003 shares in the company, valued at $4,285,384.53. The disclosure for this sale can be found here. Insiders sold a total of 182,871 shares of company stock worth $351,892 in the last quarter. Company insiders own 6.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Level Four Advisory Services LLC acquired a new stake in shares of Checkpoint Therapeutics during the fourth quarter worth about $31,000. JPMorgan Chase & Co. grew its stake in Checkpoint Therapeutics by 73,468.4% during the 4th quarter. JPMorgan Chase & Co. now owns 13,978 shares of the company’s stock worth $43,000 after buying an additional 13,959 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Checkpoint Therapeutics by 22.3% during the third quarter. Dimensional Fund Advisors LP now owns 13,941 shares of the company’s stock worth $46,000 after buying an additional 2,541 shares during the period. Truist Financial Corp lifted its stake in Checkpoint Therapeutics by 29.2% in the third quarter. Truist Financial Corp now owns 14,169 shares of the company’s stock valued at $47,000 after buying an additional 3,205 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Checkpoint Therapeutics in the third quarter valued at approximately $50,000. 12.77% of the stock is currently owned by institutional investors.

CKPT has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their price target on shares of Checkpoint Therapeutics from $16.00 to $20.00 in a research note on Wednesday, January 26th. HC Wainwright lifted their price objective on shares of Checkpoint Therapeutics from $17.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, January 25th. Finally, LADENBURG THALM/SH SH increased their target price on Checkpoint Therapeutics from $20.00 to $26.00 in a report on Wednesday, January 26th.

Shares of CKPT opened at $1.26 on Friday. The company has a market capitalization of $114.14 million, a price-to-earnings ratio of -1.70 and a beta of 1.63. Checkpoint Therapeutics has a 52-week low of $1.15 and a 52-week high of $4.64. The stock has a 50 day moving average price of $1.64 and a 200 day moving average price of $2.52.

Checkpoint Therapeutics (NASDAQ:CKPTGet Rating) last issued its earnings results on Monday, March 28th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.25). Checkpoint Therapeutics had a negative net margin of 21,145.52% and a negative return on equity of 120.09%. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. On average, equities research analysts predict that Checkpoint Therapeutics will post -0.64 EPS for the current fiscal year.

Checkpoint Therapeutics Company Profile (Get Rating)

Checkpoint Therapeutics, Inc, clinical-stage immunotherapy and targeted oncology company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers. The company's lead antibody product candidate is Cosibelimab, a fully-human monoclonal antibody of IgG1 subtype that directly binds to programmed death ligand-1 (PD-L1) and blocks the PD-L1 interaction with the programmed death receptor-1 and B7.1 receptors; and CK-302, a human agonistic antibody that is designed to bind to and trigger signaling in GITR expressing cells.

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