What Next for Casi Pharmaceuticals Incorporated (NASDAQ:CASI) Stock After Increase in Shorted Shares?

January 14, 2018 - By Vivian Park

 What Next for Casi Pharmaceuticals Incorporated (NASDAQ:CASI) Stock After Increase in Shorted Shares?

Investors sentiment decreased to 1.14 in 2017 Q3. Its down 0.53, from 1.67 in 2017Q2. It dropped, as 3 investors sold CASI Pharmaceuticals, Inc. shares while 4 reduced holdings. 4 funds opened positions while 4 raised stakes. 2.39 million shares or 4.17% more from 2.29 million shares in 2017Q2 were reported.
Moors Cabot has invested 0.01% of its portfolio in CASI Pharmaceuticals, Inc. (NASDAQ:CASI). Wellington Shields Mgmt Limited has 0.17% invested in CASI Pharmaceuticals, Inc. (NASDAQ:CASI). 31,034 are owned by Northern Tru. Moreover, Vanguard Group Inc Incorporated has 0% invested in CASI Pharmaceuticals, Inc. (NASDAQ:CASI). Howland Capital Mngmt Ltd Liability Com holds 0% of its portfolio in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) for 24,139 shares. Wellington Shields & Com Ltd Limited Liability Company owns 489,984 shares or 0.29% of their US portfolio. Commercial Bank Of America Corporation De holds 0% or 1,144 shares in its portfolio. Raymond James Financial Svcs Advisors holds 55,135 shares or 0% of its portfolio. Virtu Fincl Limited Liability Company, New York-based fund reported 40,790 shares. Next Fincl Group Incorporated holds 2 shares or 0% of its portfolio. Moreover, Jpmorgan Chase & has 0% invested in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) for 9 shares. Focused Wealth Mgmt Inc accumulated 45 shares. Manatuck Hill Prtn Ltd Liability Company has invested 0.01% in CASI Pharmaceuticals, Inc. (NASDAQ:CASI). Guggenheim Ltd Limited Liability Company owns 12,242 shares or 0% of their US portfolio. Everett Harris & Ca has invested 0% in CASI Pharmaceuticals, Inc. (NASDAQ:CASI).

The stock of Casi Pharmaceuticals Incorporated (NASDAQ:CASI) registered an increase of 19.72% in short interest. CASI’s total short interest was 745,400 shares in January as published by FINRA. Its up 19.72% from 622,600 shares, reported previously. With 458,200 shares average volume, it will take short sellers 2 days to cover their CASI’s short positions. The short interest to Casi Pharmaceuticals Incorporated’s float is 2.06%.

The stock decreased 0.79% or $0.03 during the last trading session, reaching $3.75. About 281,022 shares traded. CASI Pharmaceuticals, Inc. (NASDAQ:CASI) has declined 17.65% since January 14, 2017 and is downtrending. It has underperformed by 34.35% the S&P500.

CASI Pharmaceuticals, Inc., a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. The company has market cap of $244.00 million. The Company’s lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma. It currently has negative earnings. The companyÂ’s late-stage clinical drug candidates, including MARQIBO, a microtubule inhibitor to treat adult patients with philadelphia chromosome-negative acute lymphoblastic leukemia; ZEVALIN injection for intravenous use indicated for the treatment of patients with relapsed or refractory, low-grade, or follicular B-cell non-hodgkinÂ’s lymphoma, as well as for the treatment of patients with previously untreated follicular non-hodgkinÂ’s lymphoma; and EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Ratings Coverage

Among 2 analysts covering CASI Pharmaceuticals Inc (NASDAQ:CASI), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. CASI Pharmaceuticals Inc had 4 analyst reports since October 29, 2015 according to SRatingsIntel. On Thursday, September 22 the stock rating was initiated by Maxim Group with “Buy”. H.C. Wainwright initiated the stock with “Buy” rating in Thursday, October 29 report. Maxim Group maintained CASI Pharmaceuticals, Inc. (NASDAQ:CASI) rating on Monday, August 14. Maxim Group has “Buy” rating and $400 target.

More news for CASI Pharmaceuticals, Inc. (NASDAQ:CASI) were recently published by: Prnewswire.com, which released: “CASI Pharmaceuticals Reports On Enrollment Status Of ENMD-2076 Phase 2 Study …” on April 14, 2017. Prnewswire.com‘s article titled: “CASI Pharmaceuticals Announces Abstract On ENMD-2076 In Clear Cell Ovarian Cancer” and published on May 18, 2017 is yet another important article.

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