Curis (CRIS) Stock Price Down 5.7%
Curis, Inc. (NASDAQ:CRIS) dropped 5.7% on Tuesday . The stock traded as low as $0.82 and last traded at $0.83. Approximately 3,282,700 shares changed hands during mid-day trading, an increase of 334% from the average daily volume of 755,714 shares. The stock had previously closed at $0.88.
CRIS has been the subject of several research analyst reports. Guggenheim initiated coverage on shares of Curis in a research note on Monday, October 23rd. They issued a “buy” rating and a $7.00 price target for the company. Zacks Investment Research downgraded shares of Curis from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. ValuEngine downgraded shares of Curis from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Finally, BidaskClub raised shares of Curis from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Curis currently has a consensus rating of “Hold” and an average price target of $6.50.
The company has a debt-to-equity ratio of 1.24, a current ratio of 5.15 and a quick ratio of 5.15.
Curis (NASDAQ:CRIS) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $2.44 million for the quarter, compared to analyst estimates of $2.19 million. Curis had a negative net margin of 629.29% and a negative return on equity of 250.58%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share. research analysts anticipate that Curis, Inc. will post -0.41 earnings per share for the current year.
In other news, CEO Ali Ph.D. Fattaey purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the completion of the acquisition, the chief executive officer now owns 115,890 shares in the company, valued at $122,843.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.07% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Curis by 62,201.8% during the third quarter. JPMorgan Chase & Co. now owns 2,381,798 shares of the biotechnology company’s stock worth $3,691,000 after purchasing an additional 2,377,975 shares during the last quarter. FNY Partners Fund LP boosted its holdings in Curis by 350.0% during the third quarter. FNY Partners Fund LP now owns 67,500 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 52,500 shares during the last quarter. First Eagle Investment Management LLC raised its position in Curis by 10.4% in the third quarter. First Eagle Investment Management LLC now owns 26,508,672 shares of the biotechnology company’s stock worth $39,498,000 after acquiring an additional 2,500,000 shares during the period. The Manufacturers Life Insurance Company raised its position in Curis by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 100,023 shares of the biotechnology company’s stock worth $190,000 after acquiring an additional 8,102 shares during the period. Finally, State Street Corp raised its position in Curis by 10.4% in the second quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock worth $3,511,000 after acquiring an additional 175,424 shares during the period. Institutional investors and hedge funds 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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