Checkpoint Therapeutics (CKPT) Hits New 52-Week Low Following Weak Earnings

Shares of Checkpoint Therapeutics Inc (NASDAQ:CKPT) hit a new 52-week low during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $2.02 and last traded at $2.08, with a volume of 1245 shares changing hands. The stock had previously closed at $2.32.

The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.26 million. Checkpoint Therapeutics had a negative return on equity of 138.91% and a negative net margin of 3,800.00%.

Several research firms recently issued reports on CKPT. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Checkpoint Therapeutics in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Checkpoint Therapeutics from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Monday, August 13th. Finally, ValuEngine raised shares of Checkpoint Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.

A number of hedge funds and other institutional investors have recently bought and sold shares of CKPT. BlackRock Inc. purchased a new position in Checkpoint Therapeutics during the second quarter worth about $164,000. Bainco International Investors purchased a new position in Checkpoint Therapeutics during the second quarter worth about $277,000. Finally, Millennium Management LLC purchased a new position in Checkpoint Therapeutics during the first quarter worth about $331,000. 1.84% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $74.49 million, a PE ratio of -2.00 and a beta of 1.98.

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Checkpoint Therapeutics Company Profile (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc, an immuno-oncology biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers. The company's products include CK-301 in Phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC); and CK-101 in the Phase 1 portion of a Phase 1/2 clinical trial for the treatment of epidermal growth factor receptor (EGFR) mutation-positive NSCLC.

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