Shorts Action: Could Casi Pharmaceuticals Incorporated (NASDAQ:CASI) See a Reversal After More Sellers Came In?

November 28, 2016 - By Marguerite Chambers   ·   0 Comments

Shorts Action: Could Casi Pharmaceuticals Incorporated (NASDAQ:CASI) See a Reversal After More Sellers Came In?

The stock of Casi Pharmaceuticals Incorporated (NASDAQ:CASI) registered an increase of 3.77% in short interest. CASI’s total short interest was 118,500 shares in November as published by FINRA. Its up 3.77% from 114,200 shares, reported previously. With 43,300 shares average volume, it will take short sellers 3 days to cover their CASI’s short positions. The short interest to Casi Pharmaceuticals Incorporated’s float is 0.44%. The stock last traded at $1.49 per share. It is up 15.50% since April 25, 2016 and is uptrending. It has outperformed by 9.49% the S&P500.

CASI Pharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $83.01 million. The Firm is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. It currently has negative earnings. It operates through the development of targeted therapeutics for the treatment of cancer segment.

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.87, from 2 in 2016Q1. The ratio dropped, as 2 funds sold all CASI Pharmaceuticals Inc shares owned while 2 reduced positions. 3 funds bought stakes while 5 increased positions. They now own 2.18 million shares or 1.40% more from 2.15 million shares in 2016Q1.
Renaissance Technology Ltd last reported 52,600 shares in the company. Deutsche Bancshares Ag accumulated 21 shares or 0% of the stock. Manatuck Hill Partners Ltd Liability has 0.01% invested in the company for 15,090 shares. Moors Cabot last reported 0.02% of its portfolio in the stock. Royal Bancorp Of Canada owns 19,544 shares or 0% of their US portfolio. The New York-based Focused Wealth Mgmt has invested 0% in CASI Pharmaceuticals Inc (NASDAQ:CASI). Moreover, Next Finance Gru has 0% invested in CASI Pharmaceuticals Inc (NASDAQ:CASI) for 2 shares. California Employees Retirement has 0% invested in the company for 136,518 shares. Goldman Sachs owns 30,179 shares or 0% of their US portfolio. Williams Jones Assoc Llc, a New York-based fund reported 16,085 shares. Blackrock Advsrs Ltd Liability Co last reported 0% of its portfolio in the stock. Bankshares Of America De has 523 shares for 0% of their US portfolio. The New York-based Wellington Shields & has invested 0.36% in CASI Pharmaceuticals Inc (NASDAQ:CASI). Blackrock Institutional Na has 0% invested in the company for 225,650 shares. Vanguard Grp Inc accumulated 0% or 382,798 shares.

CASI Pharmaceuticals Inc (NASDAQ:CASI) Ratings Coverage

Out of 2 analysts covering CASI Pharmaceuticals Inc (NASDAQ:CASI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. CASI Pharmaceuticals Inc has been the topic of 2 analyst reports since October 29, 2015 according to StockzIntelligence Inc. The rating was initiated by Maxim Group with “Buy” on Thursday, September 22. The stock of CASI Pharmaceuticals Inc (NASDAQ:CASI) earned “Buy” rating by H.C. Wainwright on Thursday, October 29.

CASI Company Profile

CASI Pharmaceuticals, Inc., incorporated on September 18, 1991, is a biopharmaceutical company. The Firm is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. The Firm operates through the development of targeted therapeutics primarily for the treatment of cancer segment. The Company’s product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, the United States Food and Drug Administration (FDA) approved drugs in-licensed from Spectrum Pharmaceuticals, Inc., and early-stage candidates in preclinical development. The Company’s pipeline also includes 2ME2 (2-methoxyestradial). The Company’s primary research and development focuses on oncology therapeutics.

More important recent CASI Pharmaceuticals Inc (NASDAQ:CASI) news were published by: Prnewswire.com which released: “CASI Pharmaceuticals Reports Third Quarter 2016 Financial Results” on November 14, 2016, also Prnewswire.com published article titled: “CASI Pharmaceuticals Provides Update On Phase 2 Trial Of ENMD-2076 In …”, Prnewswire.com published: “CASI Pharmaceuticals Receives Approval From CFDA To Conduct Phase 2 Clinical …” on May 12, 2016. More interesting news about CASI Pharmaceuticals Inc (NASDAQ:CASI) was released by: Prnewswire.com and their article: “CASI Pharmaceuticals’ Import Drug Registration Application For MARQIBO …” with publication date: January 12, 2016.

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By Marguerite Chambers

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