Short Interest in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Drops By 24.1%

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 27,400 shares, a drop of 24.1% from the February 13th total of 36,100 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 29,400 shares, the days-to-cover ratio is currently 0.9 days.

CASI Pharmaceuticals Stock Performance

Shares of NASDAQ:CASI opened at $2.43 on Wednesday. The company has a market cap of $37.65 million, a P/E ratio of -1.09 and a beta of 0.41. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. CASI Pharmaceuticals has a one year low of $2.04 and a one year high of $7.67. The business’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $4.11.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on CASI Pharmaceuticals in a report on Wednesday. They set a “hold” rating on the stock.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP boosted its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.