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

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 23,300 shares, a decline of 15.0% from the February 28th total of 27,400 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 1.1 days.

CASI Pharmaceuticals Stock Down 2.8 %

CASI stock opened at $2.10 on Wednesday. The company’s 50 day simple moving average is $2.37 and its 200-day simple moving average is $3.78. CASI Pharmaceuticals has a 52-week low of $2.04 and a 52-week high of $7.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The firm has a market capitalization of $32.54 million, a P/E ratio of -0.94 and a beta of 0.41.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.19). The firm had revenue of $13.36 million for the quarter, compared to analyst estimates of $7.39 million. CASI Pharmaceuticals had a negative net margin of 143.18% and a negative return on equity of 181.52%.

Institutional Investors Weigh In On CASI Pharmaceuticals

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on CASI Pharmaceuticals in a research report on Thursday, March 27th. They issued a “hold” rating for the company.

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.