Short Interest in CASI Pharmaceuticals Inc. (NASDAQ:CASI) Expands By 64.8%

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

Institutional Investors Weigh In On CASI Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foresite Capital Management VI LLC raised its position 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 purchasing an additional 192,835 shares during the period. Bank of America Corp DE increased its stake in CASI Pharmaceuticals by 2,013.3% in the 3rd 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 period. Two Sigma Investments LP purchased a new stake in shares of CASI Pharmaceuticals during the 3rd quarter worth about $55,000. Finally, Woodline Partners LP lifted its stake in CASI Pharmaceuticals by 64.9% in the first 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 last quarter. Institutional investors own 22.23% of the company’s stock.

Analyst Ratings Changes

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

CASI Pharmaceuticals Trading Up 13.6%

NASDAQ:CASI traded up $0.10 during trading hours on Friday, hitting $0.85. The stock had a trading volume of 38,015 shares, 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 business has a 50 day simple moving average of $0.91 and a two-hundred day simple moving average of $1.43. The company has a market cap of $10.46 million, a PE ratio of -0.28 and a beta of 0.91.

CASI Pharmaceuticals (NASDAQ:CASI) last announced 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 during 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.