Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Decreases By 40.6%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 44,900 shares, a decline of 40.6% from the October 31st total of 75,600 shares. Based on an average daily volume of 30,300 shares, the short-interest ratio is presently 1.5 days. Approximately 1.2% of the company’s shares 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 set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Down 4.1 %

Shares of NASDAQ CASI traded down $0.17 during mid-day trading on Thursday, hitting $3.97. 27,749 shares of the stock traded hands, compared to its average volume of 136,349. The company has a market cap of $61.38 million, a price-to-earnings ratio of -1.78 and a beta of 0.69. The stock has a fifty day moving average price of $5.61 and a 200-day moving average price of $5.45. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $8.48. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC boosted its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the period. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent reporting period. 22.23% of the stock is currently owned by institutional investors and hedge funds.

About CASI Pharmaceuticals

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.