Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Decreases By 40.6%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 44,900 shares, a decrease of 40.6% from the October 31st total of 75,600 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 30,300 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on CASI Pharmaceuticals in a research note on Saturday, August 3rd. They issued a “hold” rating for the company.

CASI Pharmaceuticals Stock Performance

CASI traded down $0.17 during trading on Friday, reaching $3.80. 32,578 shares of the company’s stock were exchanged, compared to its average volume of 135,900. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $8.48. The company’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $5.44. The stock has a market capitalization of $58.75 million, a P/E ratio of -1.70 and a beta of 0.69.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC lifted its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,800 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the quarter. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.23% of the company’s stock.

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.