Checkmate Pharmaceuticals (NASDAQ:CMPI) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Checkmate Pharmaceuticals Inc. is a clinical stage biotechnology company. It is focused on developing proprietary technology to harness the power of the immune system to combat cancer. The company’s product candidate includes CMP-001, which is in clinical stage. Checkmate Pharmaceuticals Inc. is based in Cambridge, United States. “

Separately, BTIG Research cut Checkmate Pharmaceuticals from a buy rating to a neutral rating in a research note on Wednesday, April 20th.

NASDAQ:CMPI opened at $10.39 on Tuesday. The stock’s 50-day simple moving average is $4.67 and its 200 day simple moving average is $3.75. The company has a market cap of $224.75 million, a P/E ratio of -3.66 and a beta of -4.86. Checkmate Pharmaceuticals has a 52-week low of $2.00 and a 52-week high of $10.48.

Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported ($0.62) EPS for the quarter. Research analysts anticipate that Checkmate Pharmaceuticals will post -3.14 EPS for the current year.

In related news, major shareholder Global Strategic Fund I. Venbio sold 27,668 shares of Checkmate Pharmaceuticals stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $10.39, for a total value of $287,470.52. Following the completion of the transaction, the insider now directly owns 3,060,542 shares in the company, valued at approximately $31,799,031.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Strategic Fund I. Venbio sold 62,200 shares of the firm’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $10.38, for a total transaction of $645,636.00. Following the completion of the transaction, the insider now directly owns 3,125,640 shares of the company’s stock, valued at $32,444,143.20. The disclosure for this sale can be found here. Insiders have sold a total of 608,537 shares of company stock worth $6,316,970 in the last three months. Insiders own 6.30% of the company’s stock.

A hedge fund recently bought a new stake in Checkmate Pharmaceuticals stock. Millennium Management LLC purchased a new position in Checkmate Pharmaceuticals, Inc. (NASDAQ:CMPIGet Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,633 shares of the company’s stock, valued at approximately $31,000. 74.56% of the stock is owned by hedge funds and other institutional investors.

Checkmate Pharmaceuticals Company Profile (Get Rating)

Checkmate Pharmaceuticals, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing novel therapeutics for the treatment of cancer. It develops CMP-001, which is in phase II clinical trial in combination with pembrolizumab to treat patients with PD-1 refractory melanoma; combination with nivolumab to treat patients with PD-1 naïve neoadjuvant melanoma; and treatment in patients with PD-1 refractory melanoma.

See Also

Get a free copy of the Zacks research report on Checkmate Pharmaceuticals (CMPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Checkmate Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Checkmate Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.