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

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) shares crossed 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.

Analyst Upgrades and Downgrades

CKPT has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Checkpoint Therapeutics in a research report on Monday, December 16th. Lake Street Capital increased their target price on shares of 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 shares of Checkpoint Therapeutics in a research report on Monday, January 13th. They set a “buy” rating and a $9.00 target price for the company.

Checkpoint Therapeutics Stock Performance

The stock has a market cap of $121.59 million, a PE ratio of -1.35 and a beta of 1.41. The stock has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $3.07.

Insiders Place Their Bets

In other Checkpoint Therapeutics news, CFO William Garrett Gray sold 74,110 shares of the company’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 completion of the transaction, the chief financial officer now owns 1,458,644 shares in the company, valued at $5,353,223.48. This 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 the SEC website. Also, CEO James F. Oliviero III sold 10,331 shares of the 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 transaction, the chief executive officer now owns 3,775,019 shares of the company’s stock, valued at approximately $11,891,309.85. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 582,336 shares of company stock worth $2,156,801 in the last 90 days. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Checkpoint Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Checkpoint Therapeutics by 32.2% during the 3rd quarter. State Street Corp now owns 94,424 shares of the company’s stock valued at $212,000 after buying an additional 23,000 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 124,787 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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 buying an additional 80,000 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Checkpoint Therapeutics during the 3rd quarter valued at approximately $148,000. Finally, Gladstone Institutional Advisory LLC boosted its stake in shares of Checkpoint Therapeutics by 75.4% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 61,399 shares of the company’s stock valued at $196,000 after buying an additional 26,399 shares during the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Checkpoint Therapeutics Company Profile

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.