Checkpoint Therapeutics (NASDAQ:CKPT) Shares Down 1%

Shares of Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) fell 1% during trading on Tuesday . The stock traded as low as $1.42 and last traded at $1.44. 352,028 shares traded hands during trading, a decline of 35% from the average session volume of 541,909 shares. The stock had previously closed at $1.45.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Checkpoint Therapeutics in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Checkpoint Therapeutics currently has an average rating of “Buy” and an average target price of $22.60.

Checkpoint Therapeutics Stock Performance

The business has a 50 day moving average of $1.92 and a two-hundred day moving average of $2.05. The firm has a market capitalization of $50.68 million, a price-to-earnings ratio of -0.43 and a beta of 0.99.

Checkpoint Therapeutics (NASDAQ:CKPT) last issued its earnings results on Friday, March 22nd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.36). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.09 million. On average, equities analysts predict that Checkpoint Therapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Armistice Capital LLC boosted its position in shares of Checkpoint Therapeutics by 46.1% during the third quarter. Armistice Capital LLC now owns 2,064,000 shares of the company’s stock valued at $3,509,000 after buying an additional 651,000 shares during the last quarter. Sabby Management LLC bought a new position in shares of Checkpoint Therapeutics during the third quarter valued at about $349,000. B. Riley Wealth Advisors Inc. boosted its holdings in Checkpoint Therapeutics by 232.3% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 163,350 shares of the company’s stock worth $374,000 after purchasing an additional 114,200 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Checkpoint Therapeutics in the 3rd quarter worth about $102,000. Finally, PVG Asset Management Corp increased its stake in Checkpoint Therapeutics by 81.9% in the 3rd quarter. PVG Asset Management Corp now owns 111,025 shares of the company’s stock valued at $189,000 after buying an additional 50,000 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Checkpoint Therapeutics Company 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.