Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Rises By 17.0%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 37,100 shares, a growth of 17.0% from the January 15th total of 31,700 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 37,900 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for about 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest holding. Foresite Capital Management VI LLC owned approximately 8.58% of CASI Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of NASDAQ CASI traded down $0.09 during mid-day trading on Monday, hitting $2.50. The stock had a trading volume of 19,879 shares, compared to its average volume of 20,718. CASI Pharmaceuticals has a twelve month low of $2.05 and a twelve month high of $7.67. The firm has a market cap of $38.73 million, a PE ratio of -1.12 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The company has a 50 day moving average of $2.75 and a two-hundred day moving average of $4.76.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of CASI Pharmaceuticals in a research report on Saturday. They issued a “hold” rating on the stock.

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.