Every day thousands upon thousands of investors look into the possibility of investing in penny stocks and one of the penny stocks that you could start looking into this week is that of Checkpoint Therapeutics (NASDAQ:CKPT).
Market Reaction
On Friday, CKPT stock fell 5.26% to $1.80 with 1.66 million shares, compared to its average volume of 1.58 million shares. The stock moved within a range of $1.7800 – 1.9400 after opening trade at $1.94.
Key Analysis
The small cap biopharma company is involved with cancer therapeutics and that is what possibly makes it an interesting stock to follow at this point. The company boasts of active research and development activities and at this point in time it is working on two candidates. One of those is olafertinib and the other is cosibelimab. It should be noted that both of those candidates are currently at the latter stages of their clinical trials.
Out of the two candidates which are currently under development, it is cosibelimab which is at a more advanced stage and at this point in time, the Phase 3 trials are being carried out. The company has also made a series of fairly positive announcements with regards to the sort of progress that it has made with regards to the development. Over the course of the past week, the stock has also managed to deliver gains of as much as 13% and it may be a good move to add it to your watch lists.
Traders Review
CKPT stock is trading below the 20-Day and 50-Day Moving averages of $1.87 and $2.29 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0122.
