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

CASI Pharmaceuticals Inc. (NASDAQ:CASI) saw a significant growth in short interest in 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. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 30,567 shares, the short-interest ratio is currently 3.3 days. Based on an average trading volume of 30,567 shares, the short-interest ratio is currently 3.3 days. Currently, 1.0% of the shares of the stock are short sold.

CASI Pharmaceuticals Stock Performance

CASI stock traded up $0.10 during midday trading on Friday, reaching $0.85. The stock had a trading volume of 38,015 shares, compared to its average volume of 24,453. The firm has a fifty day simple moving average of $0.91 and a two-hundred day simple moving average of $1.43. The stock has a market cap of $10.46 million, a PE ratio of -0.28 and a beta of 0.91. CASI Pharmaceuticals has a 52-week low of $0.74 and a 52-week high of $3.09.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Friday, November 14th. The biotechnology company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates 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 note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in CASI Pharmaceuticals in the third quarter valued at about $55,000. Woodline Partners LP lifted its position in shares of CASI Pharmaceuticals by 64.9% during 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. Bank of America Corp DE grew its holdings in shares of 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 worth $423,000 after acquiring an additional 242,823 shares during the period. Finally, Foresite Capital Management VI LLC raised its position in 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 acquiring an additional 192,835 shares during the last quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

About CASI Pharmaceuticals

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.