Update: Curis, Inc. Short Interest Grows by 17.5%
Wall Street Pulse
by Thomas Lindt on March 2, 2015
Curis, Inc. (NASDAQ:CRIS) reported a rise of 431,076 shares or 17.5% in the short interest. The remaining shorts are 3.4% of the total floated shares. The net short interest, as on February 13,2015, stood at 2,889,571 shares and the stocks days to cover will be 1 by factoring in the average per day volume of 1,949,276 shares. On January 30,2015, 2,458,495 shares were shorted.
(Posted 3-2-15 AMC)
Shares of Curis, Inc. (NASDAQ:CRIS) ended the trading session with a loss of 0.07 points or 2.22% at $3.08. The shares had previously closed at $3.15. Heavy selling had caused the price to collapse to $2.98 intraday but value-buying helped the shares pare some of the losses; however the shares dipped into the negative territory by end of the day. This is an interesting bullish sign which implies that investors are willing to buy on the dips. The session witnessed a volume of 1,863,953 shares. Curis, Inc. (NASDAQ:CRIS) has a market cap of $332 million and the number of outstanding shares is 107,849,000. The shares have a 52-week high of $3.5.
Curis, Inc. (NASDAQ:CRIS) has dropped 9.41% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 67.39% in the last 4 weeks. The counter has underperformed the S&P 500 by 9.16% during the past week but Curis, Inc. (NASDAQ:CRIS) has outperformed the index in 4 weeks by 58.68%.
Curis, Inc. is a drug discovery and development company that is committed to leveraging signaling pathway drug technologies in seeking to develop next generation network-targeted cancer therapies. The Company conducts its research and development programs both internally and through strategic collaborations. Its advanced program is Hedgehog pathway inhibitor program under collaboration with Genentech, Inc., a wholly owned member of the Roche Group. The lead drug candidate being developed under this program is Erivedge, a orally-administered small molecule Hedgehog pathway inhibitor, which is also known as vismodegib, GDC-0449 and RG3616. In October 2011, the Company completed a Phase Ib expansion trial to test CUDC-101. The Companys other development candidate under collaboration is Debio 0932 (formerly CUDC-305).
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