Checkpoint Therapeutics Inc (NASDAQ: CKPT) has seen a decline in its stock price by -1.07 in relation to its previous close of 1.87. However, the company has experienced a -9.76% decline in its stock price over the last five trading sessions. Proactive Investors reported 2023-12-18 that Checkpoint Therapeutics (NASDAQ:CKPT) Inc shares plummeted 48% to $1.72 in midday trading on Monday after the US Food and Drug Administration (FDA) failed to approve its drug development candidate Cosibelimab, the clinical-stage immunotherapy and targeted oncology company’s experimental therapy to treat a type of advanced skin cancer. In its complete response letter (CRL), the FDA cited issues related to a third-party contract manufacturer as the reason for its decision.
Is It Worth Investing in Checkpoint Therapeutics Inc (NASDAQ: CKPT) Right Now?
Moreover, the 36-month beta value for CKPT is 0.93. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CKPT is 19.97M and currently, short sellers hold a 18.38% of that float. On April 05, 2024, CKPT’s average trading volume was 551.92K shares.
CKPT’s Market Performance
CKPT stock saw a decrease of -9.76% in the past week, with a monthly decline of -16.29% and a quarterly a decrease of -24.18%. The volatility ratio for the week is 4.69%, and the volatility levels for the last 30 days are 5.99% for Checkpoint Therapeutics Inc (CKPT). The simple moving average for the last 20 days is -6.39% for CKPT stock, with a simple moving average of -14.35% for the last 200 days.
Analysts’ Opinion of CKPT
Many brokerage firms have already submitted their reports for CKPT stocks, with B. Riley Securities repeating the rating for CKPT by listing it as a “Buy.” The predicted price for CKPT in the upcoming period, according to B. Riley Securities is $7 based on the research report published on July 14, 2022 of the previous year 2022.
B. Riley Securities, on the other hand, stated in their research note that they expect to see CKPT reach a price target of $18. The rating they have provided for CKPT stocks is “Buy” according to the report published on June 09th, 2021.
Cantor Fitzgerald gave a rating of “Overweight” to CKPT, setting the target price at $16 in the report published on January 20th of the previous year.
CKPT Trading at -6.68% from the 50-Day Moving Average
After a stumble in the market that brought CKPT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.90% of loss for the given period.
Volatility was left at 5.99%, however, over the last 30 days, the volatility rate increased by 4.69%, as shares sank -13.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.20% upper at present.
During the last 5 trading sessions, CKPT fell by -8.05%, which changed the moving average for the period of 200-days by -27.50% in comparison to the 20-day moving average, which settled at $1.9620. In addition, Checkpoint Therapeutics Inc saw -19.21% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CKPT starting from Oliviero James F III, who sale 5,894 shares at the price of $2.06 back on Feb 28 ’24. After this action, Oliviero James F III now owns 350,836 shares of Checkpoint Therapeutics Inc, valued at $12,142 using the latest closing price.
GRAY WILLIAM GARRETT, the Chief Financial Officer of Checkpoint Therapeutics Inc, sale 2,035 shares at $2.07 during a trade that took place back on Feb 28 ’24, which means that GRAY WILLIAM GARRETT is holding 145,224 shares at $4,212 based on the most recent closing price.
Stock Fundamentals for CKPT
Current profitability levels for the company are sitting at:
- -506.29 for the present operating margin
- -288.04 for the gross margin
The net margin for Checkpoint Therapeutics Inc stands at -429.5. The total capital return value is set at 4.0.
Currently, EBITDA for the company is -52.15 million with net debt to EBITDA at 0.08. When we switch over and look at the enterprise to sales, we see a ratio of 570.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.29.
Conclusion
To wrap up, the performance of Checkpoint Therapeutics Inc (CKPT) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
