Short Interest in Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Expands By 8.5%

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,030,000 shares, an increase of 8.5% from the October 31st total of 5,560,000 shares. Approximately 14.9% of the shares of the company are sold short. Based on an average daily volume of 727,700 shares, the days-to-cover ratio is presently 8.3 days.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Checkpoint Therapeutics in a report on Wednesday.

Checkpoint Therapeutics Trading Up 1.2 %

Shares of NASDAQ:CKPT traded up $0.05 on Wednesday, hitting $4.09. The company had a trading volume of 239,044 shares, compared to its average volume of 545,484. The stock has a market cap of $199.71 million, a price-to-earnings ratio of -2.20 and a beta of 1.34. The stock has a 50 day moving average price of $3.20 and a 200 day moving average price of $2.55. Checkpoint Therapeutics has a 1-year low of $1.36 and a 1-year high of $4.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08). Sell-side analysts anticipate that Checkpoint Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Checkpoint Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Magnus Financial Group LLC raised its stake in Checkpoint Therapeutics by 12.9% in the 3rd quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock worth $78,000 after purchasing an additional 4,000 shares in the last quarter. Choreo LLC raised 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 buying an additional 7,080 shares in the last quarter. PVG Asset Management Corp boosted its stake in shares of Checkpoint Therapeutics by 9.2% in the third quarter. PVG Asset Management Corp now owns 149,870 shares of the company’s stock valued at $336,000 after buying an additional 12,676 shares during the period. Virtu Financial LLC acquired a new stake in Checkpoint Therapeutics during the third quarter worth approximately $30,000. Finally, XTX Topco Ltd acquired a new stake in Checkpoint Therapeutics during the second quarter worth approximately $34,000. 22.00% of the stock is 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.