CASI Pharmaceuticals, Inc. (NASDAQ:CASI – Get Rating) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 180,100 shares, a decrease of 14.9% from the June 30th total of 211,700 shares. Based on an average daily volume of 71,700 shares, the short-interest ratio is currently 2.5 days. Currently, 1.7% of the shares of the stock are sold short.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. BTIG Research upped their price target on shares of CASI Pharmaceuticals from $4.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 3rd. HC Wainwright reduced their price target on shares of CASI Pharmaceuticals from $40.00 to $30.00 in a research report on Friday, May 13th. Finally, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research report on Tuesday. They set a “hold” rating for the company.
CASI Pharmaceuticals Trading Down 2.1 %
Shares of NASDAQ CASI opened at $2.36 on Wednesday. CASI Pharmaceuticals has a 12-month low of $2.41 and a 12-month high of $17.40. The stock has a market cap of $32.12 million, a PE ratio of -1.07 and a beta of 0.64. The company has a 50-day moving average of $2.97 and a 200 day moving average of $5.41.
Institutional Trading of CASI Pharmaceuticals
Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC grew its stake in shares of 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 buying an additional 31,971 shares during the period. Citigroup Inc. purchased a new stake in shares of CASI Pharmaceuticals in the 1st quarter valued at approximately $59,000. Bailard Inc. grew its stake in shares of CASI Pharmaceuticals by 25.6% in the 2nd quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 6,430 shares during the period. Finally, Wellington Shields & Co. LLC grew its stake in shares of CASI Pharmaceuticals by 27.3% in the 1st quarter. Wellington Shields & Co. LLC now owns 1,453,190 shares of the biotechnology company’s stock valued at $1,177,000 after buying an additional 312,000 shares during the period. Hedge funds and other institutional investors own 39.51% of the company’s stock.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in 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.
- Get a free copy of the StockNews.com research report on CASI Pharmaceuticals (CASI)
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