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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 37,100 shares, an increase of 17.0% from the January 15th total of 31,700 shares. Based on an average daily volume of 37,900 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of CASI Pharmaceuticals in a research note on Saturday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest position. Foresite Capital Management VI LLC owned 8.58% of CASI Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

CASI Pharmaceuticals Trading Down 3.5 %

CASI stock traded down $0.09 during midday trading on Monday, reaching $2.50. The company’s stock had a trading volume of 19,879 shares, compared to its average volume of 20,718. The firm has a market capitalization of $38.73 million, a price-to-earnings ratio of -1.12 and a beta of 0.60. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The stock has a fifty day simple moving average of $2.75 and a two-hundred day simple moving average of $4.76.

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.