CASI Pharmaceuticals Inc. (NASDAQ:CASI) Short Interest Update

CASI Pharmaceuticals Inc. (NASDAQ:CASI) saw a large increase in short interest in January. As of January 30th, there was short interest totaling 100,120 shares, an increase of 64.8% from the January 15th total of 60,755 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 30,567 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily trading volume, of 30,567 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.0% of the company’s stock are sold short.

CASI Pharmaceuticals Stock Performance

Shares of NASDAQ:CASI traded up $0.10 on Friday, hitting $0.85. 38,015 shares of the company’s stock were exchanged, compared to its average volume of 24,453. CASI Pharmaceuticals has a 1-year low of $0.74 and a 1-year high of $3.09. The company has a market capitalization of $10.46 million, a PE ratio of -0.28 and a beta of 0.91. The firm’s 50-day moving average is $0.91 and its 200 day moving average is $1.43.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Friday, November 14th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.27). The firm had revenue of $3.08 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CASI Pharmaceuticals in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CASI. Woodline Partners LP increased its holdings in shares of CASI Pharmaceuticals by 64.9% in the 1st quarter. Woodline Partners LP now owns 164,365 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 64,675 shares during the period. Two Sigma Investments LP purchased a new stake in shares of CASI Pharmaceuticals in the third quarter valued at about $55,000. Bank of America Corp DE raised its holdings in shares of CASI Pharmaceuticals by 2,013.3% in the third quarter. Bank of America Corp DE now owns 254,884 shares of the biotechnology company’s stock valued at $423,000 after buying an additional 242,823 shares during the last quarter. Finally, Foresite Capital Management VI LLC boosted its stake in shares of CASI Pharmaceuticals by 24.5% during the third quarter. Foresite Capital Management VI LLC now owns 979,956 shares of the biotechnology company’s stock worth $1,627,000 after buying an additional 192,835 shares during the period. 22.23% of the stock is currently owned by institutional investors and hedge funds.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of innovative therapies in oncology and immunology. The company leverages a combination of small‐molecule targeted drugs and biologics to address high‐unmet medical needs in cancer and autoimmune diseases. CASI’s R&D efforts emphasize the discovery and advancement of compounds that modulate key signaling pathways, with a goal of delivering differentiated treatment options to patients worldwide.

The company’s lead clinical candidate is famitinib, a multi‐targeted tyrosine kinase inhibitor that has been evaluated in various solid tumors, including gastric, breast and renal cancers.