CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Up 771.1% in June

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 529,600 shares, an increase of 771.1% from the June 15th total of 60,800 shares. Based on an average trading volume of 231,700 shares, the short-interest ratio is currently 2.3 days. Currently, 8.2% of the shares of the stock are short sold.

CASI Pharmaceuticals Price Performance

CASI stock traded down $0.04 during trading on Thursday, reaching $6.48. 30,870 shares of the company were exchanged, compared to its average volume of 212,429. The company has a 50-day moving average of $3.73 and a two-hundred day moving average of $4.43. The company has a market capitalization of $86.83 million, a price-to-earnings ratio of -2.86 and a beta of 0.68. CASI Pharmaceuticals has a twelve month low of $1.90 and a twelve month high of $8.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 5.05 and a quick ratio of 3.25.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). The company had revenue of $3.41 million for the quarter. CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. As a group, equities analysts predict that CASI Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a report on Wednesday. They set a “hold” rating for the company. HC Wainwright cut their price target on shares of CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, May 15th.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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. 22.23% of the stock is owned by hedge funds and other institutional investors.

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.