Recent insider trends for CASI Pharmaceuticals, Inc. (NASDAQ:CASI) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of CASI, the data has a lot to say about how the stock might perform going forward.
Institutions own 03.36% of CASI Pharmaceuticals, Inc. (CASI)’s shares. The total value of these holdings, in millions, is $6. Among active positions in the latest quarter, 7 holders increased their positions by a total of 73479 shares, 11 holders decreased the positions by a total of 139423 shares, and 12 holders held their positions. This works out to a net decrease in ownership of 65944 shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 2 holders initiated new positions by a total of 41989 shares and 4 holders exited their positions by a total of 49512 shares. This nets out to a decrease of 7523 shares and is another bearish sign for CASI.
In the last three months, insiders executed a total of 7 trades. 7 of these were buys. Insider ownership increased by a total of 822829 shares, which suggests that CASI’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 7 buys, and ownership increased by a net of 822829 shares.
Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. CASI Pharmaceuticals, Inc. (NASDAQ:CASI)’s short interest is 259900 shares, or 0.72% of the float. This represents a decrease of -37% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Insider data can help an investor form an outlook on a stock, but it’s important to supplement this data with other information such as technical indicators to form a more complete view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that CASI is a Strong buy, which implies that CASI is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that CASI Pharmaceuticals, Inc. (NASDAQ:CASI) is undervalued.