Checkpoint Therapeutics Target of Unusually High Options Trading (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of some unusual options trading activity on Wednesday. Stock investors bought 7,222 call options on the stock. This represents an increase of approximately 6,778% compared to the typical volume of 105 call options.

Separately, B. Riley assumed coverage on shares of Checkpoint Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $18.00 target price for the company.

Shares of CKPT opened at $3.03 on Friday. The business’s fifty day simple moving average is $2.74. Checkpoint Therapeutics has a 12 month low of $1.56 and a 12 month high of $5.38. The firm has a market cap of $239.93 million, a price-to-earnings ratio of -6.89 and a beta of 1.53.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its quarterly earnings results on Thursday, May 6th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Checkpoint Therapeutics had a negative net margin of 15,942.43% and a negative return on equity of 74.75%. On average, equities research analysts forecast that Checkpoint Therapeutics will post -0.44 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Checkpoint Therapeutics by 9.4% in the 1st quarter. BlackRock Inc. now owns 3,544,060 shares of the company’s stock valued at $11,128,000 after buying an additional 303,461 shares during the last quarter. Opaleye Management Inc. acquired a new position in Checkpoint Therapeutics in the 1st quarter valued at $9,188,000. Geode Capital Management LLC grew its stake in Checkpoint Therapeutics by 25.0% in the 1st quarter. Geode Capital Management LLC now owns 798,553 shares of the company’s stock valued at $2,507,000 after buying an additional 159,785 shares during the last quarter. Spotlight Asset Group Inc. grew its stake in Checkpoint Therapeutics by 714.5% in the 1st quarter. Spotlight Asset Group Inc. now owns 651,597 shares of the company’s stock valued at $2,046,000 after buying an additional 571,597 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Checkpoint Therapeutics by 10.9% in the 4th quarter. Northern Trust Corp now owns 562,491 shares of the company’s stock valued at $1,491,000 after buying an additional 55,330 shares during the last quarter. Institutional investors own 20.26% of the company’s stock.

Checkpoint Therapeutics Company Profile

Checkpoint Therapeutics, Inc, a clinical-stage immuno-oncology biopharmaceutical 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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