CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Short Interest Up 17.0% in January

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 37,100 shares, an increase of 17.0% from the January 15th total of 31,700 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 37,900 shares, the days-to-cover ratio is currently 1.0 days.

CASI Pharmaceuticals Stock Down 3.5 %

CASI Pharmaceuticals stock traded down $0.09 during mid-day trading on Monday, hitting $2.50. The company had a trading volume of 19,879 shares, compared to its average volume of 20,718. CASI Pharmaceuticals has a 12 month low of $2.05 and a 12 month high of $7.67. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $4.76. The company has a market capitalization of $38.73 million, a PE ratio of -1.12 and a beta of 0.60.

Analyst Ratings Changes

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

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for 1.7% of Foresite Capital Management VI LLC’s portfolio, making the stock its 13th biggest position. Foresite Capital Management VI LLC owned 8.58% of CASI Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.