Checkpoint Therapeutics (NASDAQ:CKPT) Price Target Raised to $7.00 at Lake Street Capital

Checkpoint Therapeutics (NASDAQ:CKPT) had its target price raised by Lake Street Capital from $4.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price points to a potential upside of 102.90% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Checkpoint Therapeutics in a research note on Monday.

Checkpoint Therapeutics Price Performance

Shares of Checkpoint Therapeutics stock traded down $0.22 during trading hours on Monday, reaching $3.45. The company’s stock had a trading volume of 13,058,448 shares, compared to its average volume of 603,330. The firm has a 50 day moving average price of $3.48 and a 200-day moving average price of $2.66. The stock has a market cap of $168.46 million, a P/E ratio of -1.83 and a beta of 1.34. Checkpoint Therapeutics has a one year low of $1.36 and a one year high of $4.50.

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

Institutional Investors Weigh In On Checkpoint Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Checkpoint Therapeutics by 67.4% in the 1st quarter. Vanguard Group Inc. now owns 917,894 shares of the company’s stock valued at $1,882,000 after acquiring an additional 369,586 shares during the last quarter. Choreo LLC boosted its stake in shares of Checkpoint Therapeutics by 12.2% during 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. XTX Topco Ltd bought a new position in shares of Checkpoint Therapeutics in the second quarter worth about $34,000. B. Riley Wealth Advisors Inc. increased its stake in Checkpoint Therapeutics by 366.3% in 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. Finally, PVG Asset Management Corp purchased a new position in Checkpoint Therapeutics in the 2nd quarter worth about $295,000. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

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.