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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 75,600 shares, a drop of 31.3% from the October 15th total of 110,000 shares. Based on an average daily volume of 27,200 shares, the short-interest ratio is currently 2.8 days. Approximately 1.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a research report on Saturday, August 3rd. They issued a “hold” rating for the company.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the quarter. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 22.23% of the company’s stock.

CASI Pharmaceuticals Price Performance

Shares of CASI stock traded down $0.55 during trading hours on Friday, reaching $5.33. The stock had a trading volume of 27,316 shares, compared to its average volume of 139,548. The stock’s fifty day simple moving average is $5.97 and its 200 day simple moving average is $5.30. The company has a current ratio of 3.88, a quick ratio of 2.36 and a debt-to-equity ratio of 2.05. CASI Pharmaceuticals has a 12 month low of $2.05 and a 12 month high of $8.48. The firm has a market capitalization of $82.41 million, a PE ratio of -2.39 and a beta of 0.69.

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

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.