Shares of Curis, Inc. (NASDAQ:CRIS) dropped 5.2% during trading on Thursday . The stock traded as low as $0.55 and last traded at $0.55. Approximately 970,053 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,552,220 shares. The stock had previously closed at $0.58.

CRIS has been the topic of several research reports. Zacks Investment Research raised shares of Curis from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Guggenheim initiated coverage on shares of Curis in a research report on Monday, October 23rd. They issued a “buy” rating and a $7.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.50.

The firm has a market cap of $90.36, a PE ratio of -1.30 and a beta of 1.56. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.24.

In related news, CEO Ali Ph.D. Fattaey acquired 50,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $1.06 per share, with a total value of $53,000.00. Following the completion of the transaction, the chief executive officer now owns 115,890 shares in the company, valued at approximately $122,843.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.07% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC raised its position in shares of Curis by 912.0% in the fourth quarter. Citadel Advisors LLC now owns 321,400 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 289,640 shares during the period. BlackRock Inc. raised its position in shares of Curis by 2.3% in the fourth quarter. BlackRock Inc. now owns 9,719,497 shares of the biotechnology company’s stock valued at $6,803,000 after purchasing an additional 223,002 shares during the period. SG Americas Securities LLC raised its position in shares of Curis by 514.0% in the fourth quarter. SG Americas Securities LLC now owns 269,128 shares of the biotechnology company’s stock valued at $188,000 after purchasing an additional 225,295 shares during the period. JPMorgan Chase & Co. raised its position in shares of Curis by 62,201.8% in the third quarter. JPMorgan Chase & Co. now owns 2,381,798 shares of the biotechnology company’s stock valued at $3,691,000 after purchasing an additional 2,377,975 shares during the period. Finally, FNY Partners Fund LP raised its position in shares of Curis by 350.0% in the third quarter. FNY Partners Fund LP now owns 67,500 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 52,500 shares during the period. 55.34% of the stock is currently owned by institutional investors and hedge funds.

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About Curis

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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