Cascadian Therapeutics Inc (NASDAQ:CASC) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 665,213 shares, a decline of 29.3% from the February 15th total of 941,371 shares. Based on an average trading volume of 656,707 shares, the days-to-cover ratio is presently 1.0 days.
CASC stock opened at $9.98 on Wednesday. The firm has a market cap of $506.61, a PE ratio of -7.48 and a beta of 3.79. Cascadian Therapeutics has a 1 year low of $3.18 and a 1 year high of $10.21.
Hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in shares of Cascadian Therapeutics during the 2nd quarter valued at about $136,000. SG Americas Securities LLC boosted its position in shares of Cascadian Therapeutics by 194.7% during the 4th quarter. SG Americas Securities LLC now owns 38,541 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 25,464 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Cascadian Therapeutics during the 4th quarter valued at about $181,000. Alps Advisors Inc. acquired a new position in shares of Cascadian Therapeutics during the 4th quarter valued at about $207,000. Finally, California State Teachers Retirement System acquired a new position in shares of Cascadian Therapeutics during the 2nd quarter valued at about $226,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Cantor Fitzgerald set a $10.00 target price on shares of Cascadian Therapeutics and gave the stock a “hold” rating in a research note on Friday, March 9th. BidaskClub cut shares of Cascadian Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. ValuEngine raised shares of Cascadian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Raymond James Financial cut shares of Cascadian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research cut shares of Cascadian Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.17.
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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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