State Street Corp Buys 23,000 Shares of Checkpoint Therapeutics, Inc. (NASDAQ:CKPT)

State Street Corp raised its stake in Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) by 32.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 94,424 shares of the company’s stock after purchasing an additional 23,000 shares during the quarter. State Street Corp’s holdings in Checkpoint Therapeutics were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CKPT. XTX Topco Ltd bought a new stake in Checkpoint Therapeutics during the 2nd quarter valued at $34,000. Gladstone Institutional Advisory LLC increased its position in shares of Checkpoint Therapeutics by 141.4% in the third quarter. Gladstone Institutional Advisory LLC now owns 35,000 shares of the company’s stock valued at $78,000 after acquiring an additional 20,500 shares during the period. Magnus Financial Group LLC increased its position in shares of Checkpoint Therapeutics by 12.9% in the third quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock valued at $78,000 after acquiring an additional 4,000 shares during the period. Choreo LLC raised 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 acquiring an additional 7,080 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Checkpoint Therapeutics during the third quarter worth about $148,000. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Insiders Place Their Bets

In related news, CFO William Garrett Gray sold 268,432 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $4.01, for a total value of $1,076,412.32. Following the completion of the transaction, the chief financial officer now directly owns 1,032,754 shares in the company, valued at $4,141,343.54. The trade was a 20.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James F. Oliviero III sold 220,230 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $3.38, for a total value of $744,377.40. Following the completion of the transaction, the chief executive officer now directly owns 3,194,583 shares in the company, valued at $10,797,690.54. This trade represents a 6.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Checkpoint Therapeutics Price Performance

Shares of NASDAQ CKPT opened at $3.65 on Friday. Checkpoint Therapeutics, Inc. has a 1 year low of $1.38 and a 1 year high of $4.50. The company’s 50-day moving average is $3.67 and its 200 day moving average is $2.81. The stock has a market capitalization of $178.24 million, a P/E ratio of -1.98 and a beta of 1.34.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). Research analysts anticipate that Checkpoint Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CKPT shares. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Checkpoint Therapeutics in a report on Monday, December 16th. Lake Street Capital boosted their target price on Checkpoint Therapeutics from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 16th.

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.