Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Decreases By 23.7%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 60,800 shares, a decrease of 23.7% from the May 31st total of 79,700 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 53,800 shares, the days-to-cover ratio is presently 1.1 days.

CASI Pharmaceuticals Stock Down 1.8 %

Shares of NASDAQ CASI traded down $0.10 during mid-day trading on Monday, reaching $5.40. 256,726 shares of the company’s stock were exchanged, compared to its average volume of 218,168. The firm has a market capitalization of $72.36 million, a price-to-earnings ratio of -2.37 and a beta of 0.68. The company has a current ratio of 5.05, a quick ratio of 3.25 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $3.24 and a 200 day simple moving average of $4.45. CASI Pharmaceuticals has a twelve month low of $1.90 and a twelve month high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. The business had revenue of $3.41 million for the quarter. As a group, equities analysts expect that CASI Pharmaceuticals will post -2.56 EPS for the current fiscal year.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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. 22.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CASI shares. HC Wainwright decreased their target price on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. StockNews.com started coverage on CASI Pharmaceuticals in a report on Monday, June 24th. 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.