Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Sees Significant Growth in Short Interest

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT - Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 3,670,000 shares, a growth of 9.6% from the February 29th total of 3,350,000 shares. Based on an average trading volume of 654,100 shares, the short-interest ratio is presently 5.6 days. Currently, 18.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Checkpoint Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new position in Checkpoint Therapeutics in the 2nd quarter worth about $25,000. Tower Research Capital LLC TRC increased its stake in shares of Checkpoint Therapeutics by 92.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,174 shares of the company's stock valued at $26,000 after buying an additional 5,375 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Checkpoint Therapeutics in the first quarter valued at about $25,000. Cetera Investment Advisers acquired a new stake in shares of Checkpoint Therapeutics in the second quarter valued at about $38,000. Finally, Ironwood Investment Management LLC increased its stake in shares of Checkpoint Therapeutics by 29.5% in the first quarter. Ironwood Investment Management LLC now owns 16,265 shares of the company's stock valued at $37,000 after buying an additional 3,701 shares during the period. Institutional investors and hedge funds own 22.00% of the company's stock.

Checkpoint Therapeutics Stock Performance

Shares of Checkpoint Therapeutics stock traded down $0.10 during trading on Tuesday, reaching $1.92. 305,408 shares of the company's stock were exchanged, compared to its average volume of 580,775. Checkpoint Therapeutics has a 1-year low of $1.30 and a 1-year high of $3.62. The firm's 50-day moving average price is $1.98 and its 200 day moving average price is $2.05. The company has a market cap of $68.52 million, a P/E ratio of -0.61 and a beta of 0.99.

Checkpoint Therapeutics (NASDAQ:CKPT - Get Free Report) last issued its earnings results on Friday, March 22nd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.36). The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.09 million. As a group, equities research analysts predict that Checkpoint Therapeutics will post -1.75 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CKPT shares. B. Riley decreased their price target on Checkpoint Therapeutics from $8.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, December 20th. HC Wainwright reissued a "buy" rating and set a $34.00 price target on shares of Checkpoint Therapeutics in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $22.60.

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. The company's lead antibody product candidate is Cosibelimab, a fully-human monoclonal antibody of IgG1 subtype that directly binds to programmed death ligand-1 (PD-L1) and blocks the PD-L1 interaction with the programmed death receptor-1 and B7.1 receptors; and CK-302, a human agonistic antibody that is designed to bind to and trigger signaling in GITR expressing cells.

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