Curis, Inc. (CRIS) Sees Significant Increase in Short Interest
Curis, Inc. (NASDAQ:CRIS) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,434,534 shares, an increase of 3.3% from the April 28th total of 2,356,666 shares. Based on an average daily volume of 670,056 shares, the days-to-cover ratio is presently 3.6 days.
In related news, Director James R. Mcnab sold 76,276 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $2.04, for a total transaction of $155,603.04. Following the completion of the transaction, the director now directly owns 879,688 shares in the company, valued at approximately $1,794,563.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Mcnab sold 146,694 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $2.61, for a total transaction of $382,871.34. Following the transaction, the director now owns 912,426 shares of the company’s stock, valued at $2,381,431.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 450,000 shares of company stock valued at $1,101,973. Corporate insiders own 6.09% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Curis by 58.7% in the first quarter. Bank of America Corp DE now owns 36,348 shares of the biotechnology company’s stock worth $101,000 after buying an additional 13,448 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Curis during the first quarter worth about $105,000. Dynamic Technology Lab Private Ltd bought a new position in Curis during the fourth quarter worth approximately $106,000. A.R.T. Advisors LLC bought a new position in Curis during the fourth quarter worth approximately $116,000. Finally, Oxford Asset Management bought a new position in Curis during the fourth quarter worth approximately $138,000. 49.49% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on CRIS shares. Cowen and Company restated a “buy” rating on shares of Curis in a research note on Monday, May 15th. FBR & Co set a $6.00 price objective on shares of Curis and gave the company a “buy” rating in a research note on Saturday, March 11th. Finally, Zacks Investment Research upgraded shares of Curis from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Curis currently has a consensus rating of “Buy” and a consensus price target of $5.88.
Curis (NASDAQ:CRIS) opened at 1.72 on Friday. The stock has a 50 day moving average of $2.18 and a 200-day moving average of $2.72. Curis has a 52 week low of $1.47 and a 52 week high of $3.72. The firm’s market cap is $247.29 million.
Curis (NASDAQ:CRIS) last announced its earnings results on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.02. The business had revenue of $2.13 million during the quarter, compared to the consensus estimate of $1.98 million. Curis had a negative net margin of 861.64% and a negative return on equity of 99.45%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. Analysts expect that Curis will post ($0.40) earnings per share for the current year.
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Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.
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