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.
ILLEGAL ACTIVITY NOTICE: “Checkpoint Therapeutics (CKPT) Hits New 52-Week Low Following Weak Earnings” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/11/07/checkpoint-therapeutics-ckpt-hits-new-52-week-low-following-weak-earnings.html.
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.
Read More: Leveraged Buyout (LBO)
Receive News & Ratings for Checkpoint Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Checkpoint Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.