Cascadian Therapeutics, Inc. (NASDAQ:CASC) was the recipient of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 852,203 shares, a decrease of 23.9% from the May 15th total of 1,120,094 shares. Based on an average daily trading volume, of 263,108 shares, the short-interest ratio is currently 3.2 days. Approximately 2.2% of the company’s stock are short sold.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd bought a new position in Cascadian Therapeutics during the first quarter valued at $122,000. Dimensional Fund Advisors LP bought a new position in Cascadian Therapeutics during the first quarter valued at $133,000. Citadel Advisors LLC bought a new position in Cascadian Therapeutics during the first quarter valued at $142,000. Bank of America Corp DE raised its position in Cascadian Therapeutics by 2,316.5% in the first quarter. Bank of America Corp DE now owns 37,528 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 35,975 shares during the period. Finally, Perkins Capital Management Inc. raised its position in Cascadian Therapeutics by 6.4% in the first quarter. Perkins Capital Management Inc. now owns 48,129 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 2,887 shares during the period. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Cascadian Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Jefferies Group LLC restated a “buy” rating and issued a $10.00 price objective (down previously from $15.00) on shares of Cascadian Therapeutics in a report on Saturday, March 11th. ValuEngine downgraded Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. BTIG Research started coverage on Cascadian Therapeutics in a report on Friday, April 21st. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price target on shares of Cascadian Therapeutics in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.25.

Cascadian Therapeutics (NASDAQ:CASC) opened at 3.32 on Wednesday. The firm’s 50-day moving average price is $4.10 and its 200 day moving average price is $4.30. The firm’s market cap is $163.46 million. Cascadian Therapeutics has a one year low of $3.30 and a one year high of $10.98.

Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.09. On average, equities research analysts forecast that Cascadian Therapeutics will post $5.02 EPS for the current year.

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Cascadian Therapeutics Company Profile

Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.

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