CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Up 204.5% in March

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 127,300 shares, a growth of 204.5% from the February 29th total of 41,800 shares. Based on an average daily volume of 194,700 shares, the short-interest ratio is currently 0.7 days. Approximately 2.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a research note on Thursday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On CASI Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of CASI Pharmaceuticals in the 3rd quarter worth $27,000. Susquehanna International Group LLP grew its stake in shares of CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after buying an additional 23,758 shares in the last quarter. Citigroup Inc. purchased a new position in shares of CASI Pharmaceuticals in the 1st quarter worth $59,000. Finally, Virtu Financial LLC grew its stake in shares of CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after buying an additional 31,971 shares in the last quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Stock Performance

Shares of NASDAQ:CASI traded up $0.07 during trading on Thursday, reaching $3.07. 69,978 shares of the stock traded hands, compared to its average volume of 206,331. The stock has a market cap of $41.08 million and a P/E ratio of -1.00. CASI Pharmaceuticals has a 52-week low of $1.85 and a 52-week high of $8.48. The stock has a 50-day moving average of $5.24 and a two-hundred day moving average of $4.84.

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.