Checkpoint Therapeutics (NASDAQ:CKPT) Shares Pass Below Fifty Day Moving Average – Here’s Why

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.17 and traded as low as $2.43. Checkpoint Therapeutics shares last traded at $2.49, with a volume of 628,629 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on CKPT shares. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Checkpoint Therapeutics in a research note on Monday, December 16th. Lake Street Capital increased their target price on Checkpoint Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, D. Boral Capital initiated coverage on Checkpoint Therapeutics in a research note on Monday, January 13th. They issued a “buy” rating and a $9.00 target price on the stock.

Checkpoint Therapeutics Stock Down 5.3 %

The firm’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $3.07. The company has a market cap of $121.59 million, a price-to-earnings ratio of -1.35 and a beta of 1.41.

Insider Activity at Checkpoint Therapeutics

In related news, CFO William Garrett Gray sold 74,110 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $3.67, for a total value of $271,983.70. Following the sale, the chief financial officer now directly owns 1,458,644 shares in the company, valued at $5,353,223.48. This trade represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James F. Oliviero III sold 10,331 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $3.15, for a total value of $32,542.65. Following the completion of the sale, the chief executive officer now owns 3,775,019 shares in the company, valued at approximately $11,891,309.85. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 582,336 shares of company stock worth $2,156,801 in the last three months. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Checkpoint Therapeutics

Several hedge funds have recently modified their holdings of CKPT. 683 Capital Management LLC acquired a new position in shares of Checkpoint Therapeutics during the 4th quarter valued at $522,000. Geode Capital Management LLC increased its position in shares of Checkpoint Therapeutics by 41.2% during the 3rd quarter. Geode Capital Management LLC now owns 427,651 shares of the company’s stock valued at $958,000 after purchasing an additional 124,787 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Checkpoint Therapeutics during the 4th quarter valued at $374,000. Bank of America Corp DE increased its position in shares of Checkpoint Therapeutics by 30,216.8% during the 4th quarter. Bank of America Corp DE now owns 90,041 shares of the company’s stock valued at $288,000 after purchasing an additional 89,744 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Checkpoint Therapeutics by 160.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 130,000 shares of the company’s stock valued at $291,000 after purchasing an additional 80,000 shares during the period. 22.00% of the stock is currently owned by institutional investors and hedge funds.

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.