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

Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, 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 lowered shares of Checkmate Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 20th.

CMPI stock traded down $0.01 during mid-day trading on Thursday, hitting $10.48. The company had a trading volume of 122,579 shares, compared to its average volume of 143,040. The firm has a market cap of $230.96 million, a PE ratio of -3.59 and a beta of -4.84. Checkmate Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $10.50. The stock’s fifty day moving average price is $6.99 and its two-hundred day moving average price is $4.46.

Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) last announced its quarterly earnings data on Tuesday, March 29th. The company reported ($0.62) EPS for the quarter. As a group, sell-side analysts forecast that Checkmate Pharmaceuticals will post -3.14 EPS for the current year.

In related news, major shareholder Global Strategic Fund I. Venbio sold 62,200 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 3,125,640 shares of the company’s stock, valued at approximately $32,444,143.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Strategic Fund I. Venbio sold 27,668 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $10.39, for a total transaction of $287,470.52. Following the sale, the insider now directly owns 3,060,542 shares in the company, valued at approximately $31,799,031.38. The disclosure for this sale can be found here. In the last three months, insiders sold 1,013,201 shares of company stock worth $10,539,177. Insiders own 62.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Decheng Capital Management III Cayman LLC bought a new position in shares of Checkmate Pharmaceuticals in the 1st quarter worth $4,253,000. Millennium Management LLC bought a new position in shares of Checkmate Pharmaceuticals in the 4th quarter worth $31,000. Finally, BlackRock Inc. increased its holdings in shares of Checkmate Pharmaceuticals by 126.7% in the 3rd quarter. BlackRock Inc. now owns 51,794 shares of the company’s stock worth $205,000 after buying an additional 28,944 shares during the last quarter. 74.56% of the stock is currently owned by institutional investors and hedge funds.

About Checkmate Pharmaceuticals (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.

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