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William Garrett Gray, the Chief Financial Officer of Checkpoint Therapeutics , Inc. (NASDAQ:CKPT), recently sold 74,110 shares of the company’s common stock. The shares were sold at a weighted average price of $3.67, resulting in a total transaction value of approximately $271,983. This sale was conducted automatically by the company’s restricted stock administrator to cover Mr. Gray’s tax withholding obligations related to the vesting of 187,200 shares, as per corporate policy. Following this transaction, Mr. Gray retains ownership of 1,458,644 shares, which include restricted common stock that vests over time. InvestingPro analysis reveals the company faces some liquidity challenges with a current ratio of 0.29, though the stock has recently gained momentum with a 15.85% return in the past week. Subscribers can access 6 additional ProTips and comprehensive insider trading analysis on the platform.
In other recent news, Checkpoint Therapeutics has been receiving positive attention from analysts. Boral (OTC:BOALY) Capital initiated coverage on the biopharmaceutical company with a Buy rating, citing the recent approval of their lead drug, UNLOXCYT, as a significant factor. They believe the drug’s unique design and favorable adverse event profile position it well in the competitive field of immuno-oncology.
In addition, Lake Street Capital Markets has updated its outlook on Checkpoint Therapeutics, maintaining a Buy rating and raising the stock’s price target from $4.00 to $7.00. The firm’s confidence is rooted in the company’s strong performance and persistent demand trends that support its business.
In other company developments, Checkpoint Therapeutics announced the continuation of Garrett Gray as Chief Financial Officer through a new executive employment agreement. The agreement outlines Gray’s compensation, including an annual base salary of $350,000 and eligibility for performance-based cash bonuses. These recent developments underscore the ongoing evolution and potential of Checkpoint Therapeutics in the biopharmaceutical sector.
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