Checkpoint Therapeutics Announces Quarterly Earnings Results

Checkpoint Therapeutics (NASDAQ:CKPT) revealed its quarterly earnings results on Friday. The company reported an earnings per share (EPS) of ($0.69) for the quarter, which fell short of analysts' consensus estimates of ($0.22) by a margin of ($0.47), according to Zacks.

Checkpoint Therapeutics Stock Performance

On Friday, CKPT shares traded up by $0.01, reaching a price of $4.04. During the trading session, 522,554 shares changed hands, which is below the average trading volume of 1,124,079 shares. Checkpoint Therapeutics has a market capitalization of $197.29 million. The company’s price-to-earnings ratio stands at -2.20, and it has a beta of 1.41. Over the past year, the stock has seen a low of $1.38 and a high of $4.50. The 50-day moving average for CKPT is $3.32, while the 200-day moving average is $3.25.

Analyst Ratings Updates

Various research analysts have provided updates on CKPT. On March 11th, HC Wainwright maintained a "neutral" rating with a price target of $4.10 on Checkpoint Therapeutics shares. On March 10th, Lake Street Capital reiterated a "hold" rating but lowered its price target from $7.00 to $4.10 for the company. Additionally, D. Boral Capital maintained a "buy" rating but reduced its price target from $9.00 to $4.80 on the same day.

Insider Transactions at Checkpoint Therapeutics

In other corporate news, CFO William Garrett Gray sold 74,110 shares of the company’s stock on February 6th, at an average price of $3.67 each, amounting to a total transaction value of $271,983.70. Following this sale, Gray now holds 1,458,644 shares valued at approximately $5,353,223.48, reflecting a 4.84% reduction in his company ownership.

Furthermore, CEO James F. Oliviero III sold 9,233 shares on February 7th, at an average price of $3.41, for a total sum of $31,484.53. After this transaction, he retains ownership of 3,785,350 shares worth about $12,908,043.50, which signifies a 0.24% decline in his stake. Over the past three months, insiders have sold 93,674 shares with a total value of $336,011. Insiders currently own 2.10% of the company's equity.

Company Overview

Checkpoint Therapeutics, Inc. is a clinical-stage immunotherapy and targeted oncology company that is focused on acquiring, developing, and commercializing innovative treatments for patients with solid tumor cancers both in the United States and internationally. The company's principal antibody product candidate, Cosibelimab, is currently undergoing Phase 1 clinical trials for the treatment of certain recurrent or metastatic cancers, while CK-302 is in preclinical trials aimed at hematological malignancies and solid tumors.

Conclusion

Investors interested in Checkpoint Therapeutics should consider the recent performance trends and analyst opinions alongside the company’s core developments in the oncology field.

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