Checkpoint Therapeutics (NASDAQ:CKPT) Stock Price Up 6.8%

Checkpoint Therapeutics Inc (NASDAQ:CKPT) rose 6.8% during trading on Wednesday . The stock traded as high as $3.22 and last traded at $3.00, approximately 114,080 shares traded hands during mid-day trading. An increase of 177% from the average daily volume of 41,142 shares. The stock had previously closed at $2.81.

CKPT has been the subject of several research reports. ValuEngine raised shares of Checkpoint Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Checkpoint Therapeutics in a report on Friday, August 9th. Finally, Lake Street Capital initiated coverage on shares of Checkpoint Therapeutics in a report on Wednesday, May 29th. They issued a “buy” rating for the company.

The company’s fifty day moving average price is $2.74 and its 200 day moving average price is $3.41. The firm has a market capitalization of $115.87 million, a price-to-earnings ratio of -2.35 and a beta of 3.11.

Checkpoint Therapeutics (NASDAQ:CKPT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Checkpoint Therapeutics had a negative net margin of 712.89% and a negative return on equity of 263.14%. The business had revenue of $1.05 million during the quarter, compared to analyst estimates of $0.96 million. Equities analysts forecast that Checkpoint Therapeutics Inc will post -0.65 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Checkpoint Therapeutics by 71.8% during the 2nd quarter. BlackRock Inc. now owns 2,809,565 shares of the company’s stock valued at $8,513,000 after purchasing an additional 1,174,070 shares during the period. Vanguard Group Inc. boosted its stake in Checkpoint Therapeutics by 117.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,213,971 shares of the company’s stock valued at $3,679,000 after purchasing an additional 655,833 shares during the period. Park Avenue Securities LLC acquired a new position in Checkpoint Therapeutics during the 1st quarter valued at about $199,000. Northern Trust Corp boosted its stake in Checkpoint Therapeutics by 46.5% during the 2nd quarter. Northern Trust Corp now owns 61,048 shares of the company’s stock valued at $185,000 after purchasing an additional 19,374 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Checkpoint Therapeutics by 174.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,510 shares of the company’s stock valued at $181,000 after purchasing an additional 37,837 shares during the period. 11.44% of the stock is owned by hedge funds and other institutional investors.

About Checkpoint Therapeutics (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc, an immuno-oncology biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers. The company's product candidates include CK-101 that in the phase 1/2 clinical trial for the treatment of epidermal growth factor receptor mutation-positive non-small cell lung cancer; and CK-301, a programmed death ligand-1 (PD-L1), which is in phase I clinical trial in patients with selected recurrent or metastatic cancers.

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