CASI Pharmaceuticals, Inc. (NASDAQ:CASI – Get Free Report) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 217,600 shares, a drop of 58.9% from the June 30th total of 529,600 shares. Based on an average trading volume of 235,300 shares, the short-interest ratio is currently 0.9 days. Approximately 3.4% of the shares of the stock are sold short.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 0.30% of CASI Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 22.23% of the company’s stock.
CASI Pharmaceuticals Price Performance
Shares of CASI Pharmaceuticals stock traded down $0.03 during trading on Friday, hitting $6.60. 18,752 shares of the company were exchanged, compared to its average volume of 124,293. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20. CASI Pharmaceuticals has a fifty-two week low of $1.90 and a fifty-two week high of $8.48. The stock has a market capitalization of $88.45 million, a price-to-earnings ratio of -2.89 and a beta of 0.68. The firm has a 50 day moving average price of $4.58 and a 200 day moving average price of $4.40.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a research report on Friday. They set a “hold” rating for the company. HC Wainwright cut their price objective on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th.
Get Our Latest Stock Report on CASI
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.
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