Zacks Investment Research downgraded shares of Checkpoint Therapeutics (NASDAQ:CKPT) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Checkpoint Therapeutics, Inc. is a clinical stage, immuno oncology biopharmaceutical. It focused on the acquisition, development and commercialization of non-chemotherapy, immune-enhanced combination treatments for patients with solid tumor cancers. Checkpoint Therapeutics, Inc. is headquartered in New York City. “

Separately, HC Wainwright set a $11.00 target price on Checkpoint Therapeutics and gave the stock a buy rating in a report on Thursday, September 6th.

Shares of CKPT traded up $0.23 on Tuesday, hitting $2.99. The company’s stock had a trading volume of 17,385 shares, compared to its average volume of 96,155. The company has a market capitalization of $114.78 million, a P/E ratio of -2.99 and a beta of 1.36. Checkpoint Therapeutics has a fifty-two week low of $2.22 and a fifty-two week high of $7.38.

Checkpoint Therapeutics (NASDAQ:CKPT) last announced its earnings results on Tuesday, August 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.09. The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.37 million. Checkpoint Therapeutics had a negative return on equity of 126.68% and a negative net margin of 2,367.51%. Sell-side analysts anticipate that Checkpoint Therapeutics will post -1.02 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CKPT. Bainco International Investors acquired a new position in Checkpoint Therapeutics during the 2nd quarter worth $277,000. Millennium Management LLC acquired a new position in Checkpoint Therapeutics during the 1st quarter worth $331,000. Finally, BlackRock Inc. acquired a new position in Checkpoint Therapeutics during the 2nd quarter worth $164,000. 2.08% of the stock is currently owned by institutional investors and hedge funds.

Checkpoint Therapeutics Company Profile

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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