Checkpoint Therapeutics Target of Unusually Large Options Trading (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of unusually large options trading on Monday. Investors bought 7,866 call options on the company. This is an increase of 1,998% compared to the typical daily volume of 375 call options.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Checkpoint Therapeutics during the third quarter valued at about $30,000. XTX Topco Ltd purchased a new position in shares of Checkpoint Therapeutics during the 2nd quarter worth approximately $34,000. Gladstone Institutional Advisory LLC raised its position in shares of Checkpoint Therapeutics by 141.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 35,000 shares of the company’s stock worth $78,000 after acquiring an additional 20,500 shares in the last quarter. Magnus Financial Group LLC lifted its stake in shares of Checkpoint Therapeutics by 12.9% in the 3rd quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock valued at $78,000 after purchasing an additional 4,000 shares during the period. Finally, Choreo LLC boosted its position 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 in the last quarter. 22.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CKPT shares. Lake Street Capital increased 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. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Checkpoint Therapeutics in a research report on Monday.

Checkpoint Therapeutics Price Performance

CKPT opened at $3.39 on Tuesday. Checkpoint Therapeutics has a one year low of $1.36 and a one year high of $4.50. The business has a 50 day simple moving average of $3.50 and a two-hundred day simple moving average of $2.67. The firm has a market capitalization of $165.54 million, a price-to-earnings ratio of -1.84 and a beta of 1.34.

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

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.