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

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

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP increased its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Stock Up 3.3 %

Shares of CASI stock traded up $0.08 during trading hours on Tuesday, reaching $2.34. 6,971 shares of the stock were exchanged, compared to its average volume of 85,556. The business’s fifty day moving average is $2.47 and its two-hundred day moving average is $4.14. The firm has a market capitalization of $36.18 million, a P/E ratio of -1.05 and a beta of 0.41. CASI Pharmaceuticals has a 12-month low of $2.04 and a 12-month high of $7.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on CASI Pharmaceuticals in a research report on Tuesday, March 11th. They set a “hold” rating on the stock.

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.