Short Interest in Curis, Inc. (NASDAQ:CRIS) Increases By 1,242.5%

Curis, Inc. (NASDAQ:CRIS) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 3,515,828 shares, a growth of 1,242.5% from the June 15th total of 261,877 shares. Currently, 191.5% of the shares of the company are sold short. Based on an average trading volume of 17,237,537 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

CRIS has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Curis in a research report on Monday, April 20th. Zacks Research lowered Curis from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. Wall Street Zen upgraded Curis to a “hold” rating in a research note on Saturday, March 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $340.00 price target on shares of Curis in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $340.00.

Curis Stock Performance

Shares of NASDAQ:CRIS remained flat at $4.96 during mid-day trading on Friday. 61,495 shares of the company were exchanged, compared to its average volume of 477,057. The stock has a market capitalization of $9.67 million, a price-to-earnings ratio of -0.21 and a beta of 3.08. The company has a 50 day simple moving average of $8.95 and a 200-day simple moving average of $14.38. Curis has a 52 week low of $3.61 and a 52 week high of $40.28.

Curis (NASDAQ:CRIS) last announced its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($25.00) earnings per share for the quarter, missing the consensus estimate of ($6.53) by ($18.47). On average, equities analysts expect that Curis will post -25.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Curis

Several large investors have recently added to or reduced their stakes in the company. Armistice Capital LLC raised its stake in 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 period. Maverick Capital Ltd. lifted its holdings in Curis by 7.8% during the second quarter. Maverick Capital Ltd. now owns 681,381 shares of the biotechnology company’s stock valued at $1,472,000 after purchasing an additional 49,554 shares during the last quarter. Renaissance Technologies LLC boosted its position in Curis by 52.2% during the first quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 125,823 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 worth $228,000 after purchasing an additional 230,659 shares in the last quarter. Finally, Focused Wealth Management Inc increased its stake in shares of Curis by 83.4% in the first quarter. Focused Wealth Management Inc now owns 109,746 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 49,900 shares in the last quarter. Hedge funds and other institutional investors own 29.97% of the company’s stock.

About Curis

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.