Short Interest in Curis, Inc. (NASDAQ:CRIS) Declines By 97.0%

Curis, Inc. (NASDAQ:CRIS) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 105,458 shares, a drop of 97.0% from the June 30th total of 3,515,828 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average trading volume of 111,499 shares, the short-interest ratio is currently 0.9 days.

Analyst Ratings Changes

CRIS has been the subject of several research analyst reports. Zacks Research upgraded shares of Curis from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Curis to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Curis in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective (up from $17.00) on shares of Curis in a research report on Friday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRIS. Northwestern Mutual Wealth Management Co. lifted its stake in Curis by 2,883,237.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,667 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 230,659 shares during the period. Renaissance Technologies LLC grew its position in shares of Curis by 52.2% during the 1st quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock worth $201,000 after buying an additional 125,823 shares during the period. Armistice Capital LLC increased its stake in shares of Curis by 8.7% in the 3rd quarter. Armistice Capital LLC now owns 978,190 shares of the biotechnology company’s stock valued at $1,624,000 after acquiring an additional 78,265 shares during the last quarter. Focused Wealth Management Inc raised its position in shares of Curis by 83.4% in the 1st quarter. Focused Wealth Management Inc now owns 109,746 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 49,900 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of Curis by 7.8% in the 2nd quarter. Maverick Capital Ltd. now owns 681,381 shares of the biotechnology company’s stock valued at $1,472,000 after acquiring an additional 49,554 shares during the period. Institutional investors and hedge funds own 29.97% of the company’s stock.

Curis Stock Up 4.7%

CRIS traded up $0.22 during trading on Friday, reaching $4.89. 108,491 shares of the company’s stock were exchanged, compared to its average volume of 482,422. The company has a market capitalization of $9.53 million, a P/E ratio of -0.21 and a beta of 3.08. The business has a 50 day moving average price of $7.69 and a 200 day moving average price of $13.27. Curis has a fifty-two week low of $3.61 and a fifty-two week high of $39.00.

Curis (NASDAQ:CRIS) last posted its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($25.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.53) by ($18.47). As a group, research analysts forecast that Curis will post -25.5 EPS for the current year.

Curis Company Profile

Curis, Inc is a biotechnology company focused on the discovery, development and commercialization of targeted small molecule and antibody therapeutics for the treatment of cancer. The company’s research centers on exploiting key signaling pathways and tumor microenvironment interactions to develop compounds with the potential to address unmet medical needs. Curis’ proprietary pipeline includes multiple programs at various stages of clinical and preclinical development, reflecting its emphasis on innovative oncology drug candidates.

Among Curis’ lead assets is CA-4948, an oral inhibitor of interleukin-1 receptor–associated kinase 4 (IRAK4) partnered with Ikena Oncology, which is being evaluated in hematologic malignancies and solid tumors.