Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Short Interest Down 6.1% in June

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 3,820,000 shares, a decrease of 6.1% from the May 31st total of 4,070,000 shares. Approximately 13.1% of the company’s shares are sold short. Based on an average trading volume of 377,200 shares, the days-to-cover ratio is presently 10.1 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of Checkpoint Therapeutics in a report on Monday, June 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.60.

Checkpoint Therapeutics Stock Up 3.9 %

Checkpoint Therapeutics stock traded up $0.08 during mid-day trading on Tuesday, reaching $2.13. 387,756 shares of the company’s stock were exchanged, compared to its average volume of 474,042. Checkpoint Therapeutics has a twelve month low of $1.30 and a twelve month high of $3.62. The company has a fifty day moving average of $1.81 and a 200-day moving average of $1.90. The company has a market cap of $76.02 million, a P/E ratio of -0.77 and a beta of 1.25.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. Equities research analysts expect that Checkpoint Therapeutics will post -1.29 earnings per share for the current fiscal year.

Insider Transactions at Checkpoint Therapeutics

In other news, CEO James F. Oliviero III sold 24,610 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $2.05, for a total value of $50,450.50. Following the transaction, the chief executive officer now directly owns 1,977,170 shares in the company, valued at approximately $4,053,198.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO James F. Oliviero III sold 24,610 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $2.05, for a total value of $50,450.50. Following the transaction, the chief executive officer now directly owns 1,977,170 shares in the company, valued at approximately $4,053,198.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Garrett Gray sold 13,038 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $2.06, for a total transaction of $26,858.28. Following the sale, the chief financial officer now directly owns 672,186 shares in the company, valued at $1,384,703.16. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Checkpoint Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC acquired a new stake in shares of Checkpoint Therapeutics in the 4th quarter valued at $44,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Checkpoint Therapeutics by 232.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 163,350 shares of the company’s stock valued at $374,000 after purchasing an additional 114,200 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in shares of Checkpoint Therapeutics in the 4th quarter valued at $55,000. Sabby Management LLC acquired a new stake in shares of Checkpoint Therapeutics in the 3rd quarter valued at $349,000. Finally, Armistice Capital LLC raised its stake in Checkpoint Therapeutics by 17.5% during the 4th quarter. Armistice Capital LLC now owns 2,426,000 shares of the company’s stock worth $5,556,000 after acquiring an additional 362,000 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

About Checkpoint Therapeutics

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.