CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Up 204.5% in March

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 127,300 shares, an increase of 204.5% from the February 29th total of 41,800 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 194,700 shares, the days-to-cover ratio is currently 0.7 days.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock traded up $0.07 during trading hours on Thursday, reaching $3.07. The company had a trading volume of 69,978 shares, compared to its average volume of 206,331. The company has a market capitalization of $41.08 million and a price-to-earnings ratio of -1.00. CASI Pharmaceuticals has a 12-month low of $1.85 and a 12-month high of $8.48. The stock has a fifty day moving average of $5.24 and a 200-day moving average of $4.84.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on CASI Pharmaceuticals in a report on Thursday. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its position in CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 31,971 shares during the period. Citigroup Inc. acquired a new position in CASI Pharmaceuticals in the 1st quarter valued at about $59,000. Susquehanna International Group LLP increased its position in CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 23,758 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in CASI Pharmaceuticals in the 3rd quarter valued at about $27,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.