Curis, Inc. (NASDAQ:CRIS) Sees Large Growth in Short Interest

Curis, Inc. (NASDAQ:CRIS) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 179,462 shares, an increase of 160.0% from the September 15th total of 69,025 shares. Based on an average daily volume of 176,280 shares, the short-interest ratio is presently 1.0 days. Approximately 9.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages recently commented on CRIS. Wall Street Zen raised Curis from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Curis in a report on Friday, July 17th. Zacks Research raised shares of Curis from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Curis in a report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.00.

Institutional Trading of Curis

Several institutional investors and hedge funds have recently bought and sold shares of CRIS. Focused Wealth Management Inc purchased a new stake in Curis during the second quarter valued at about $26,000. BlackRock Inc. bought a new position in shares of Curis during the second quarter valued at approximately $28,000. Flputnam Investment Management Co. bought a new stake in shares of Curis during the 2nd quarter valued at about $128,000. Renaissance Technologies LLC lifted its holdings in Curis by 52.2% in the first quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock worth $201,000 after buying an additional 125,823 shares during the period. Finally, Cable Car Capital LP bought a new stake in shares of Curis during the second quarter valued at approximately $696,000. 29.97% of the stock is currently owned by hedge funds and other institutional investors.

Curis Stock Performance

CRIS traded down $0.02 during mid-day trading on Wednesday, reaching $0.60. 77,839 shares of the stock were exchanged, compared to its average volume of 130,221. The stock has a market capitalization of $1.25 million, a PE ratio of -0.04 and a beta of 3.11. The company has a 50 day moving average price of $1.45 and a two-hundred day moving average price of $6.26. Curis has a 1 year low of $0.57 and a 1 year high of $33.60.

Curis (NASDAQ:CRIS) last announced its earnings results on Friday, August 14th. The biotechnology company reported ($4.02) EPS for the quarter, beating the consensus estimate of ($6.95) by $2.93. Sell-side analysts expect that Curis will post -15.65 EPS for the current fiscal year.

About Curis

Curis, Inc is a clinical-stage biotechnology company focused on developing innovative therapies for the treatment of cancer. The company’s research programs target biological pathways involved in tumor growth, survival and immune regulation, with the goal of addressing cancers that have limited treatment options.

Curis’ lead investigational product is emavusertib, also known as CA-4948, an oral inhibitor of interleukin-1 receptor-associated kinase 4 (IRAK4). The compound has been evaluated in clinical studies for hematologic malignancies, including acute myeloid leukemia and myelodysplastic syndromes, as well as certain solid tumors.