Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Sees Large Increase in Short Interest

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 4,610,000 shares, an increase of 5.3% from the September 30th total of 4,380,000 shares. Based on an average trading volume of 459,900 shares, the short-interest ratio is currently 10.0 days. Currently, 12.3% of the shares of the company are sold short.

Institutional Trading of Checkpoint Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CKPT. Vanguard Group Inc. boosted its stake in shares of Checkpoint Therapeutics by 67.4% during the 1st quarter. Vanguard Group Inc. now owns 917,894 shares of the company’s stock worth $1,882,000 after acquiring an additional 369,586 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Checkpoint Therapeutics by 366.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 229,200 shares of the company’s stock worth $493,000 after buying an additional 180,050 shares during the period. PVG Asset Management Corp purchased a new stake in Checkpoint Therapeutics in the 2nd quarter worth $295,000. Wealth Enhancement Advisory Services LLC raised its position in Checkpoint Therapeutics by 160.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 130,000 shares of the company’s stock worth $291,000 after acquiring an additional 80,000 shares during the period. Finally, Choreo LLC grew its position in shares of Checkpoint Therapeutics by 12.2% in the second quarter. Choreo LLC now owns 65,002 shares of the company’s stock valued at $133,000 after purchasing an additional 7,080 shares during the period. 22.00% of the stock is owned by hedge funds and other institutional investors.

Checkpoint Therapeutics Trading Down 1.9 %

Shares of CKPT stock traded down $0.07 during trading hours on Thursday, hitting $3.55. The company’s stock had a trading volume of 346,703 shares, compared to its average volume of 503,190. The company has a 50 day moving average of $2.50 and a 200 day moving average of $2.17. Checkpoint Therapeutics has a 12-month low of $1.36 and a 12-month high of $3.97. The stock has a market cap of $126.69 million, a PE ratio of -1.31 and a beta of 1.30.

Checkpoint Therapeutics (NASDAQ:CKPT) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.11. The company had revenue of $0.04 million during the quarter. As a group, analysts anticipate that Checkpoint Therapeutics will post -0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Checkpoint Therapeutics in a research note on Monday, September 16th.

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.