Balyasny Asset Management L.P. Buys New Stake in Checkpoint Therapeutics, Inc. (NASDAQ:CKPT)

Balyasny Asset Management L.P. purchased a new stake in Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 20,221 shares of the company’s stock, valued at approximately $65,000.

Several other hedge funds also recently added to or reduced their stakes in CKPT. PUREfi Wealth LLC purchased a new position in shares of Checkpoint Therapeutics in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. acquired a new position in Checkpoint Therapeutics in the 4th quarter worth $32,000. Stifel Financial Corp purchased a new position in Checkpoint Therapeutics in the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its stake in shares of Checkpoint Therapeutics by 157.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,616 shares of the company’s stock valued at $34,000 after acquiring an additional 6,486 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Checkpoint Therapeutics during the fourth quarter valued at about $35,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Checkpoint Therapeutics news, CFO William Garrett Gray sold 12,322 shares of Checkpoint Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $4.05, for a total value of $49,904.10. Following the completion of the transaction, the chief financial officer now directly owns 1,446,322 shares in the company, valued at $5,857,604.10. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James F. Oliviero III sold 15,090 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $4.04, for a total value of $60,963.60. Following the transaction, the chief executive officer now directly owns 3,759,929 shares of the company’s stock, valued at $15,190,113.16. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CKPT shares. Lake Street Capital reissued a “hold” rating and issued a $4.10 price target (down previously from $7.00) on shares of Checkpoint Therapeutics in a report on Monday, March 10th. D. Boral Capital reiterated a “buy” rating and set a $4.80 target price on shares of Checkpoint Therapeutics in a research note on Monday, March 31st. Finally, HC Wainwright reissued a “neutral” rating and set a $4.10 price target on shares of Checkpoint Therapeutics in a research report on Tuesday, March 11th.

Checkpoint Therapeutics Stock Performance

Shares of Checkpoint Therapeutics stock opened at $4.16 on Tuesday. Checkpoint Therapeutics, Inc. has a 1 year low of $1.75 and a 1 year high of $4.50. The firm’s 50-day simple moving average is $4.06 and its 200-day simple moving average is $3.63. The firm has a market cap of $348.46 million, a PE ratio of -2.26 and a beta of 1.18.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). On average, equities analysts predict that Checkpoint Therapeutics, Inc. will post -0.94 earnings per share for the current year.

Checkpoint Therapeutics 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.