Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Drops By 15.0%

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

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP grew its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent Form 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 as of its most recent SEC filing. 22.23% of the stock is owned by institutional investors.

CASI Pharmaceuticals Trading Up 0.5 %

NASDAQ:CASI opened at $2.11 on Thursday. The stock has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $3.77. The firm has a market capitalization of $32.69 million, a price-to-earnings ratio of -0.95 and a beta of 0.41. CASI Pharmaceuticals has a 1-year low of $2.04 and a 1-year 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.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on CASI Pharmaceuticals in a research note on Thursday, March 27th. They set 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.