Curis, Inc. (NASDAQ:CRIS) Sees Significant Growth in Short Interest

Curis, Inc. (NASDAQ:CRIS) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 439,270 shares, an increase of 144.8% from the September 30th total of 179,462 shares. Approximately 22.3% of the shares of the stock are sold short. Based on an average daily volume of 224,716 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRIS. Wall Street Zen upgraded Curis from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Curis in a research report on Thursday, October 15th. Zacks Research upgraded Curis from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Curis in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Curis has a consensus rating of “Hold” and an average target price of $43.00.

Curis Price Performance

NASDAQ CRIS traded down $0.06 during trading hours on Friday, hitting $0.49. 399,171 shares of the company’s stock traded hands, compared to its average volume of 171,834. Curis has a 52-week low of $0.33 and a 52-week high of $31.80. The firm’s 50-day moving average is $0.94 and its 200-day moving average is $9.19. The company has a market capitalization of $1.03 million, a PE ratio of -0.03 and a beta of 3.11.

Curis (NASDAQ:CRIS) last announced its quarterly earnings data on Friday, August 14th. The biotechnology company reported ($4.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.95) by $2.93. Equities research analysts predict that Curis will post -15.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Curis

Several hedge funds have recently added to or reduced their stakes in the business. Focused Wealth Management Inc purchased a new stake in Curis in the 2nd quarter valued at about $26,000. BlackRock Inc. acquired a new stake in shares of Curis during the 2nd quarter worth $28,000. Renaissance Technologies LLC raised its position in shares of Curis by 52.2% in the 1st quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock worth $201,000 after buying an additional 125,823 shares during the period. Flputnam Investment Management Co. purchased a new stake in shares of Curis during the 2nd quarter worth about $128,000. Finally, Cable Car Capital LP acquired a new stake in Curis during the 2nd quarter worth approximately $696,000. 29.97% of the stock is currently owned by hedge funds and other institutional investors.

About Curis

Curis, Inc is a clinical-stage biotechnology company focused on developing innovative therapeutics for the treatment of cancer. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and immune regulation.

Curis’ lead investigational product is emavusertib, an oral inhibitor of interleukin-1 receptor-associated kinase 4 (IRAK4). The company has evaluated emavusertib in clinical studies for hematologic malignancies, including acute myeloid leukemia, myelodysplastic syndromes and certain forms of non-Hodgkin lymphoma.