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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 27,400 shares, a drop 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. Currently, 0.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $2.20 on Monday. The company has a market cap of $34.15 million, a price-to-earnings ratio of -0.99 and a beta of 0.41. CASI Pharmaceuticals has a 52 week low of $2.04 and a 52 week high of $7.67. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $2.49 and a 200-day moving average of $4.17.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP increased its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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 approximately 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.23% of the company’s 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.