Curis, Inc. (NASDAQ:CRIS) Sees Significant Drop in Short Interest

Curis, Inc. (NASDAQ:CRIS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 74,100 shares, a drop of 54.4% from the November 15th total of 162,500 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 53,500 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Curis

A number of large investors have recently added to or reduced their stakes in CRIS. Focused Wealth Management Inc raised its position in Curis by 63.1% during the third quarter. Focused Wealth Management Inc now owns 54,066 shares of the biotechnology company’s stock worth $291,000 after acquiring an additional 20,908 shares during the period. Point72 Asset Management L.P. raised its position in shares of Curis by 795.5% in the second quarter. Point72 Asset Management L.P. now owns 108,356 shares of the biotechnology company’s stock valued at $748,000 after buying an additional 96,256 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Curis by 4.8% in the first quarter. Vanguard Group Inc. now owns 218,573 shares of the biotechnology company’s stock valued at $2,376,000 after buying an additional 10,097 shares during the last quarter. 29.97% of the stock is currently owned by institutional investors and hedge funds.

Curis Stock Performance

NASDAQ CRIS traded down $0.15 during mid-day trading on Friday, reaching $3.57. 47,426 shares of the stock were exchanged, compared to its average volume of 42,347. The business’s 50 day moving average is $4.50 and its 200-day moving average is $5.79. Curis has a 1 year low of $3.50 and a 1 year high of $17.49. The company has a market capitalization of $30.24 million, a P/E ratio of -0.46 and a beta of 3.34.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Curis in a research note on Tuesday.

About Curis

Curis, Inc, a biotechnology company, engages in the discovery and development of drug candidates for the treatment of human cancers in the United States. Its clinical stage drug candidates include Emavusertib, an oral small molecule IRAK4 kinase inhibitor, which is in a Phase 1/2 open-label, single arm expansion trial in patients with relapsed or refractory, or R/R, AML and high-risk myelodysplastic syndromes.