HC Wainwright Cuts Checkpoint Therapeutics (NASDAQ:CKPT) Price Target to $20.00

Checkpoint Therapeutics (NASDAQ:CKPT) had its price objective lowered by HC Wainwright from $34.00 to $20.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Checkpoint Therapeutics Stock Performance

Shares of CKPT stock opened at $2.11 on Monday. The stock’s 50-day simple moving average is $2.22 and its 200-day simple moving average is $1.98. The firm has a market capitalization of $75.30 million, a PE ratio of -0.76 and a beta of 1.25. Checkpoint Therapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $3.62.

Insider Activity

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

Institutional Trading of Checkpoint Therapeutics

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Checkpoint Therapeutics in the second quarter worth about $34,000. Choreo LLC boosted its stake in shares of Checkpoint Therapeutics by 12.2% in the second quarter. Choreo LLC now owns 65,002 shares of the company’s stock worth $133,000 after buying an additional 7,080 shares during the last quarter. 180 Wealth Advisors LLC purchased a new position in Checkpoint Therapeutics during the second quarter worth approximately $96,000. Vanguard Group Inc. boosted its position in Checkpoint Therapeutics by 67.4% during the first quarter. Vanguard Group Inc. now owns 917,894 shares of the company’s stock worth $1,882,000 after purchasing an additional 369,586 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in Checkpoint Therapeutics during the first quarter worth approximately $62,000. Hedge funds and other institutional investors own 22.00% of the company’s stock.

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.