Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Drops By 15.0%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 23,300 shares, a drop of 15.0% from the February 28th total of 27,400 shares. Based on an average trading volume of 21,700 shares, the short-interest ratio is presently 1.1 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of CASI Pharmaceuticals in a research note on Thursday, March 27th. They set a “hold” rating for the company.

CASI Pharmaceuticals Stock Up 0.5 %

CASI opened at $2.11 on Thursday. The stock’s 50 day moving average price is $2.36 and its 200 day moving average price is $3.77. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The stock has a market cap of $32.69 million, a P/E ratio of -0.95 and a beta of 0.41. CASI Pharmaceuticals has a 12 month low of $2.04 and a 12 month high of $7.67.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). CASI Pharmaceuticals had a negative net margin of 143.18% and a negative return on equity of 181.52%. The business had revenue of $13.36 million for the quarter, compared to analyst estimates of $7.39 million.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP raised its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the Securities and Exchange Commission. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of China, the United States, and internationally. It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.