Curis (NASDAQ:CRIS) Shares Cross Above 50-Day Moving Average – What’s Next?

Curis, Inc. (NASDAQ:CRIS) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $0.88 and traded as high as $1.60. Curis shares last traded at $1.1140, with a volume of 162,381,274 shares changing hands.

Curis News Roundup

Here are the key news stories impacting Curis this week:

• Positive Sentiment: Investor interest in the reverse-split vote and anticipated clinical data appears to be driving buying activity. The reverse split itself does not improve the company’s underlying fundamentals, and the clinical data has not yet been reported.
• Neutral Sentiment: Repeated LULD trading pauses indicate unusually volatile trading, but do not represent a separate company announcement or fundamental catalyst.

Wall Street Analysts Forecast Growth

CRIS has been the topic of several recent research reports. Zacks Research raised Curis from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. HC Wainwright reiterated a “buy” rating on shares of Curis in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Curis in a research report on Thursday, October 15th. Finally, Wall Street Zen raised Curis from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Curis currently has an average rating of “Hold” and an average target price of $43.00.

Curis Price Performance

The firm has a market capitalization of $2.33 million, a price-to-earnings ratio of -0.08 and a beta of 3.28. The stock has a fifty day moving average of $0.88 and a two-hundred day moving average of $8.84.

Curis (NASDAQ:CRIS) last announced its earnings results on Friday, August 14th. The biotechnology company reported ($4.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.95) by $2.93. On average, research analysts forecast that Curis, Inc. will post -15.65 EPS for the current year.

Hedge Funds Weigh In On Curis

A number of hedge funds have recently made changes to their positions in CRIS. Focused Wealth Management Inc bought a new position in shares of Curis during the second quarter worth about $26,000. BlackRock Inc. bought a new stake in Curis in the second quarter valued at approximately $28,000. Flputnam Investment Management Co. bought a new stake in Curis in the second quarter valued at approximately $128,000. Renaissance Technologies LLC boosted its holdings in Curis by 52.2% in the first quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 125,823 shares during the last quarter. Finally, Cable Car Capital LP acquired a new stake in Curis during the 2nd quarter valued at approximately $696,000. 29.97% of the stock is currently owned by institutional investors.

Curis Company Profile

Curis, Inc is a clinical-stage biotechnology company focused on developing innovative therapeutics for the treatment of cancer. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and immune regulation.

Curis’ lead investigational product is emavusertib, an oral inhibitor of interleukin-1 receptor-associated kinase 4 (IRAK4). The company has evaluated emavusertib in clinical studies for hematologic malignancies, including acute myeloid leukemia, myelodysplastic syndromes and certain forms of non-Hodgkin lymphoma.