CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Sees Large Growth in Short Interest

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 61,000 shares, an increase of 43.5% from the December 15th total of 42,500 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 45,400 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent reporting period. Institutional investors own 22.23% of the company’s stock.

CASI Pharmaceuticals Price Performance

CASI stock remained flat at $2.54 during mid-day trading on Wednesday. The company’s stock had a trading volume of 21,199 shares, compared to its average volume of 32,511. The company has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $5.37. CASI Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $8.19. The stock has a market capitalization of $39.35 million, a P/E ratio of -1.14 and a beta of 0.62. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38.

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.