Curis (CRIS) Shares Up 5.8%
Curis, Inc. (NASDAQ:CRIS)’s share price rose 5.8% during mid-day trading on Thursday . The company traded as high as $0.74 and last traded at $0.73. Approximately 1,703,898 shares were traded during mid-day trading, an increase of 109% from the average daily volume of 813,517 shares. The stock had previously closed at $0.69.
CRIS has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on Curis in a report on Monday, October 23rd. They set a “buy” rating and a $7.00 price target for the company. Zacks Investment Research raised Curis from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, ValuEngine raised Curis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Curis presently has a consensus rating of “Hold” and a consensus target price of $6.50.
The stock has a market capitalization of $121.61, a price-to-earnings ratio of -1.87 and a beta of 1.62. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.24.
Curis (NASDAQ:CRIS) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Curis had a negative net margin of 629.29% and a negative return on equity of 250.58%. The business had revenue of $2.44 million for the quarter, compared to analyst estimates of $2.19 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. sell-side analysts predict that Curis, Inc. will post -0.41 EPS for the current fiscal year.
In other Curis news, CEO Ali Ph.D. Fattaey purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $1.06 per share, with a total value of $53,000.00. Following the acquisition, the chief executive officer now directly owns 115,890 shares of the company’s stock, valued at approximately $122,843.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.07% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Curis by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,955,068 shares of the biotechnology company’s stock valued at $9,365,000 after buying an additional 127,443 shares during the last quarter. State Street Corp boosted its position in Curis by 10.4% in the 2nd quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock valued at $3,511,000 after buying an additional 175,424 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Curis by 10.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 26,508,672 shares of the biotechnology company’s stock valued at $39,498,000 after buying an additional 2,500,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Curis by 1.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 119,638 shares of the biotechnology company’s stock valued at $226,000 after buying an additional 1,880 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Curis by 58.7% in the 1st quarter. Bank of America Corp DE now owns 36,348 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 13,448 shares during the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.
Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.
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