Checkmate Pharmaceuticals, Inc. (NASDAQ:CMPI – Get Rating) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 78,900 shares, a growth of 71.5% from the April 30th total of 46,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 202,600 shares, the short-interest ratio is presently 0.4 days.
A number of research firms have recently weighed in on CMPI. Zacks Investment Research upgraded Checkmate Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. BTIG Research lowered Checkmate Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, April 20th.
Shares of CMPI opened at $10.50 on Friday. The firm has a market cap of $231.40 million, a PE ratio of -3.60 and a beta of -4.84. The stock’s fifty day moving average price is $7.14 and its two-hundred day moving average price is $4.50. Checkmate Pharmaceuticals has a 1 year low of $2.00 and a 1 year high of $10.50.
In other news, major shareholder Global Strategic Fund I. Venbio sold 35,850 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $10.45, for a total value of $374,632.50. Following the transaction, the insider now owns 2,251,730 shares in the company, valued at $23,530,578.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Strategic Fund I. Venbio sold 17,600 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $10.37, for a total value of $182,512.00. Following the completion of the transaction, the insider now owns 2,448,481 shares in the company, valued at approximately $25,390,747.97. The disclosure for this sale can be found here. Insiders sold 1,012,901 shares of company stock valued at $10,538,367 in the last three months. Insiders own 62.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CMPI. Millennium Management LLC purchased a new position in shares of Checkmate Pharmaceuticals in the second quarter valued at $241,000. BlackRock Inc. grew its position in Checkmate Pharmaceuticals by 126.7% during the third quarter. BlackRock Inc. now owns 51,794 shares of the company’s stock worth $205,000 after buying an additional 28,944 shares in the last quarter. Finally, Decheng Capital Management III Cayman LLC purchased a new position in Checkmate Pharmaceuticals during the first quarter worth about $4,253,000. Institutional investors own 74.56% of the company’s stock.
Checkmate Pharmaceuticals Company Profile (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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