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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 146,500 shares, a decline of 9.4% from the September 15th total of 161,700 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily volume of 34,400 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on CASI Pharmaceuticals in a report on Saturday, August 3rd. They set a “hold” rating on the stock.

CASI Pharmaceuticals Trading Down 3.2 %

CASI traded down $0.18 during mid-day trading on Wednesday, hitting $5.40. The stock had a trading volume of 18,212 shares, compared to its average volume of 151,263. The stock’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $4.86. The firm has a market capitalization of $72.37 million, a price-to-earnings ratio of -2.37 and a beta of 0.69. CASI Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $8.48. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.88 and a quick ratio of 2.36.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.11. The business had revenue of $3.98 million for the quarter, compared to the consensus estimate of $4.43 million. CASI Pharmaceuticals had a negative return on equity of 126.20% and a negative net margin of 118.81%.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 22.23% of the company’s 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.