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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the recipient of a significant decrease in short interest in the month of 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. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 29,400 shares, the days-to-cover ratio is currently 0.9 days.

CASI Pharmaceuticals Trading Up 3.3 %

Shares of CASI traded up $0.08 during trading on Tuesday, reaching $2.34. 6,971 shares of the company traded hands, compared to its average volume of 85,556. The stock has a market cap of $36.18 million, a PE ratio of -1.05 and a beta of 0.41. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. CASI Pharmaceuticals has a twelve month low of $2.04 and a twelve month high of $7.67. The stock has a 50-day simple moving average of $2.47 and a 200-day simple moving average of $4.14.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent SEC filing. 22.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a report on Tuesday, March 11th. They set a “hold” rating for the company.

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.