CASI Pharmaceuticals Inc. (NASDAQ:CASI) Short Interest Down 24.1% in January
by Scott Moore · The Cerbat GemCASI Pharmaceuticals Inc. (NASDAQ:CASI – Get Free Report) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 60,755 shares, a drop of 24.1% from the December 31st total of 80,078 shares. Based on an average daily volume of 65,086 shares, the short-interest ratio is currently 0.9 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 65,086 shares, the short-interest ratio is currently 0.9 days.
Institutional Investors Weigh In On CASI Pharmaceuticals
A number of large investors have recently modified their holdings of the stock. Foresite Capital Management VI LLC boosted its stake in shares of CASI Pharmaceuticals by 24.5% in the third quarter. Foresite Capital Management VI LLC now owns 979,956 shares of the biotechnology company’s stock valued at $1,627,000 after purchasing an additional 192,835 shares during the period. Bank of America Corp DE increased its position in shares of CASI Pharmaceuticals by 2,013.3% during the third quarter. Bank of America Corp DE now owns 254,884 shares of the biotechnology company’s stock worth $423,000 after acquiring an additional 242,823 shares during the last quarter. Woodline Partners LP lifted its stake in shares of CASI Pharmaceuticals by 64.9% in the first quarter. Woodline Partners LP now owns 164,365 shares of the biotechnology company’s stock worth $355,000 after acquiring an additional 64,675 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in CASI Pharmaceuticals in the third quarter valued at about $55,000. Institutional investors and hedge funds own 22.23% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CASI Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, CASI Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $4.00.
Check Out Our Latest Research Report on CASI
CASI Pharmaceuticals Stock Down 3.3%
Shares of NASDAQ CASI traded down $0.03 during midday trading on Monday, hitting $0.99. The stock had a trading volume of 22,962 shares, compared to its average volume of 48,080. The company has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.46. The company has a market capitalization of $12.13 million, a price-to-earnings ratio of -0.33 and a beta of 0.91. CASI Pharmaceuticals has a 1-year low of $0.75 and a 1-year high of $3.09.
CASI Pharmaceuticals (NASDAQ:CASI – Get Free Report) last released its quarterly earnings data on Friday, November 14th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.27). The business had revenue of $3.08 million for the quarter.
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.