Cascadian Therapeutics Inc (CASC) Short Interest Down 36.2% in January

Cascadian Therapeutics Inc (NASDAQ:CASC) saw a large decrease in short interest in the month of January. As of January 12th, there was short interest totalling 818,899 shares, a decrease of 36.2% from the December 29th total of 1,282,670 shares. Based on an average daily volume of 324,030 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.0% of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of the stock. OxFORD Asset Management LLP raised its stake in Cascadian Therapeutics by 11.8% during the 2nd quarter. OxFORD Asset Management LLP now owns 181,323 shares of the biopharmaceutical company’s stock worth $674,000 after buying an additional 19,131 shares during the period. SG Americas Securities LLC raised its stake in Cascadian Therapeutics by 194.7% during the 4th quarter. SG Americas Securities LLC now owns 38,541 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 25,464 shares during the period. New York State Common Retirement Fund acquired a new stake in Cascadian Therapeutics during the 2nd quarter worth $136,000. Rhumbline Advisers acquired a new stake in Cascadian Therapeutics during the 2nd quarter worth $143,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Cascadian Therapeutics during the 2nd quarter worth $225,000. 80.33% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded Cascadian Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.63.

Shares of Cascadian Therapeutics (NASDAQ CASC) opened at $5.15 on Monday. The company has a market capitalization of $260.39, a price-to-earnings ratio of -3.84 and a beta of 2.29. Cascadian Therapeutics has a 12 month low of $3.18 and a 12 month high of $5.30.

Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. During the same period last year, the company posted ($0.09) EPS. equities research analysts predict that Cascadian Therapeutics will post -1.27 earnings per share 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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