Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Short Interest Up 9.0% in November

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,570,000 shares, a growth of 9.0% from the November 15th total of 6,030,000 shares. Approximately 16.2% of the company’s stock are sold short. Based on an average daily trading volume, of 807,000 shares, the days-to-cover ratio is presently 8.1 days.

Checkpoint Therapeutics Stock Performance

Shares of NASDAQ:CKPT traded down $0.28 during trading on Monday, hitting $3.39. 16,392,112 shares of the stock were exchanged, compared to its average volume of 622,306. The company has a market capitalization of $165.53 million, a price-to-earnings ratio of -1.83 and a beta of 1.34. Checkpoint Therapeutics has a 1-year low of $1.36 and a 1-year high of $4.50. The company’s fifty day simple moving average is $3.48 and its 200-day simple moving average is $2.66.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). On average, research analysts forecast that Checkpoint Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 369,586 shares in the last quarter. Geode Capital Management LLC boosted its stake in Checkpoint Therapeutics by 41.2% during the third quarter. Geode Capital Management LLC now owns 427,651 shares of the company’s stock valued at $958,000 after buying an additional 124,787 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Checkpoint Therapeutics by 366.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 229,200 shares of the company’s stock valued at $493,000 after acquiring an additional 180,050 shares during the last quarter. PVG Asset Management Corp raised its position in Checkpoint Therapeutics by 9.2% in the 3rd quarter. PVG Asset Management Corp now owns 149,870 shares of the company’s stock worth $336,000 after purchasing an additional 12,676 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Checkpoint Therapeutics by 160.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 130,000 shares of the company’s stock worth $291,000 after purchasing an additional 80,000 shares during the period. 22.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CKPT shares. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Checkpoint Therapeutics in a research note on Monday. Lake Street Capital lifted their price objective on Checkpoint Therapeutics from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Monday.

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.