Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Drops By 24.1%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 27,400 shares, a decline of 24.1% from the February 13th total of 36,100 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 29,400 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on CASI Pharmaceuticals in a report on Wednesday. They set a “hold” rating on the stock.

CASI Pharmaceuticals Price Performance

Shares of NASDAQ CASI opened at $2.43 on Wednesday. CASI Pharmaceuticals has a twelve month low of $2.04 and a twelve month high of $7.67. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $37.65 million, a price-to-earnings ratio of -1.09 and a beta of 0.41. The business has a 50 day simple moving average of $2.46 and a 200-day simple moving average of $4.11.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP grew its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the Securities and Exchange Commission. 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.