Stock Traders Buy High Volume of Call Options on Checkpoint Therapeutics (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of some unusual options trading activity on Monday. Stock investors purchased 7,866 call options on the company. This is an increase of 1,998% compared to the average volume of 375 call options.

Institutional Trading of Checkpoint Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Checkpoint Therapeutics in the third quarter worth $30,000. XTX Topco Ltd purchased a new position in shares of Checkpoint Therapeutics in the 2nd quarter worth about $34,000. Gladstone Institutional Advisory LLC boosted its stake in Checkpoint Therapeutics by 141.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 35,000 shares of the company’s stock worth $78,000 after purchasing an additional 20,500 shares in the last quarter. Magnus Financial Group LLC boosted its stake in Checkpoint Therapeutics by 12.9% in the 3rd quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock worth $78,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Choreo LLC grew its position in Checkpoint Therapeutics by 12.2% during the 2nd quarter. Choreo LLC now owns 65,002 shares of the company’s stock valued at $133,000 after purchasing an additional 7,080 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Checkpoint Therapeutics Trading Up 9.6 %

Shares of CKPT stock opened at $3.72 on Wednesday. The company’s fifty day moving average price is $3.50 and its 200-day moving average price is $2.67. The stock has a market cap of $181.41 million, a PE ratio of -2.02 and a beta of 1.34. Checkpoint Therapeutics has a 12 month low of $1.36 and a 12 month high of $4.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). On average, sell-side analysts forecast that Checkpoint Therapeutics will post -0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CKPT shares. Lake Street Capital raised their target price on shares of Checkpoint Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Checkpoint Therapeutics in a report on Monday.

Checkpoint Therapeutics Company Profile

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.