CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Update

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 75,600 shares, a drop of 31.3% from the October 15th total of 110,000 shares. Based on an average daily trading volume, of 27,200 shares, the short-interest ratio is presently 2.8 days. Currently, 1.9% of the company’s stock are sold short.

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 9.4 %

Shares of CASI traded down $0.55 during trading hours on Friday, reaching $5.33. 27,316 shares of the stock traded hands, compared to its average volume of 139,548. The company has a current ratio of 3.88, a quick ratio of 2.36 and a debt-to-equity ratio of 2.05. The stock has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $5.30. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $8.48. The company has a market cap of $82.41 million, a price-to-earnings ratio of -2.39 and a beta of 0.69.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings results on Friday, August 16th. The biotechnology company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. CASI Pharmaceuticals had a negative net margin of 118.81% and a negative return on equity of 126.20%. The company had revenue of $3.98 million for the quarter, compared to analyst estimates of $4.43 million.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC increased its stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,800 shares of the biotechnology company’s stock after buying an additional 4,000 shares during the period. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent SEC filing. 22.23% of the stock is 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.