CASI Pharmaceuticals Inc. (NASDAQ:CASI) Short Interest Down 24.1% in January

CASI Pharmaceuticals Inc. (NASDAQ:CASI) saw a significant 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. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 65,086 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 65,086 shares, the short-interest ratio is currently 0.9 days. Approximately 0.6% of the company’s shares are short sold.

CASI Pharmaceuticals Trading Down 0.8%

Shares of CASI traded down $0.01 during trading hours on Tuesday, reaching $0.98. 6,954 shares of the company traded hands, compared to its average volume of 46,247. The stock’s fifty day moving average price is $0.93 and its 200 day moving average price is $1.46. The firm has a market cap of $12.04 million, a price-to-earnings ratio of -0.33 and a beta of 0.91. CASI Pharmaceuticals has a 12-month low of $0.75 and a 12-month high of $3.09.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Friday, November 14th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.27). The company had revenue of $3.08 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised 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 valued at $423,000 after purchasing an additional 242,823 shares in the last quarter. Foresite Capital Management VI LLC raised its stake in 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 worth $1,627,000 after buying an additional 192,835 shares in the last quarter. Woodline Partners LP raised 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 worth $355,000 after buying an additional 64,675 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in CASI Pharmaceuticals during the third quarter worth $55,000. Hedge funds and other institutional investors own 22.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 company’s stock. According to data from MarketBeat, CASI Pharmaceuticals has an average rating of “Hold” and an average price target of $4.00.

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.