Zacks Investment Research Upgrades Checkmate Pharmaceuticals (NASDAQ:CMPI) to Hold

Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Checkmate Pharmaceuticals Inc. is a clinical stage biotechnology company. It is focused on developing proprietary technology to harness the power of the immune system to combat cancer. The company’s product candidate includes CMP-001, which is in clinical stage. Checkmate Pharmaceuticals Inc. is based in Cambridge, United States. “

Separately, BTIG Research downgraded Checkmate Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Shares of CMPI stock opened at $10.39 on Thursday. Checkmate Pharmaceuticals has a fifty-two week low of $2.00 and a fifty-two week high of $10.45. The stock’s 50-day moving average is $3.67 and its two-hundred day moving average is $3.44. The firm has a market cap of $224.75 million, a P/E ratio of -3.66 and a beta of 0.61.

Checkmate Pharmaceuticals (NASDAQ:CMPIGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported ($0.62) earnings per share for the quarter. As a group, sell-side analysts forecast that Checkmate Pharmaceuticals will post -3.14 earnings per share for the current fiscal year.

In other Checkmate Pharmaceuticals news, major shareholder Global Strategic Fund I. Venbio sold 62,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $10.38, for a total value of $645,636.00. Following the completion of the sale, the insider now owns 3,125,640 shares in the company, valued at approximately $32,444,143.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Strategic Fund I. Venbio sold 399,923 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $10.42, for a total value of $4,167,197.66. Following the completion of the sale, the insider now owns 3,273,451 shares of the company’s stock, valued at approximately $34,109,359.42. The disclosure for this sale can be found here. Insiders sold a total of 464,243 shares of company stock valued at $4,818,922 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

A hedge fund recently bought a new stake in Checkmate Pharmaceuticals stock. Millennium Management LLC purchased a new stake in shares of Checkmate Pharmaceuticals, Inc. (NASDAQ:CMPIGet Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,633 shares of the company’s stock, valued at approximately $31,000. Institutional investors own 75.12% of the company’s stock.

About Checkmate Pharmaceuticals (Get Rating)

Checkmate Pharmaceuticals, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing novel therapeutics for the treatment of cancer. It develops CMP-001, which is in phase II clinical trial in combination with pembrolizumab to treat patients with PD-1 refractory melanoma; combination with nivolumab to treat patients with PD-1 naïve neoadjuvant melanoma; and treatment in patients with PD-1 refractory melanoma.

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