CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Up 17.0% in January

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 37,100 shares, an increase of 17.0% from the January 15th total of 31,700 shares. Based on an average trading volume of 37,900 shares, the short-interest ratio is presently 1.0 days. Currently, 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th biggest position. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.23% of the company’s stock.

CASI Pharmaceuticals Price Performance

Shares of NASDAQ CASI traded down $0.09 during midday trading on Monday, reaching $2.50. 19,879 shares of the stock traded hands, compared to its average volume of 20,718. The company’s 50 day moving average is $2.75 and its 200 day moving average is $4.76. CASI Pharmaceuticals has a one year low of $2.05 and a one year high of $7.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The stock has a market capitalization of $38.73 million, a PE ratio of -1.12 and a beta of 0.60.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of CASI Pharmaceuticals in a report on Saturday. They set a “hold” rating for the company.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of China, the United States, and internationally. It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.