Curis Stock Scheduled to Reverse Split on Monday, July 6th (NASDAQ:CRIS)

Shares of Curis, Inc. (NASDAQ:CRIS) are scheduled to reverse split on the morning of Monday, July 6th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, July 5th.

Curis Stock Down 17.9%

CRIS stock traded down $0.08 during mid-day trading on Thursday, hitting $0.35. 2,359,126 shares of the company were exchanged, compared to its average volume of 8,975,921. Curis has a 12-month low of $0.18 and a 12-month high of $2.01. The firm has a market capitalization of $13.51 million, a P/E ratio of -0.29 and a beta of 3.08. The business has a fifty day simple moving average of $0.49 and a 200-day simple moving average of $0.75.

Curis (NASDAQ:CRIS) last announced its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.92). Research analysts predict that Curis will post -1.27 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CRIS. Wall Street Zen upgraded Curis to a “hold” rating in a research note on Saturday, March 28th. Zacks Research cut Curis from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Curis in a report on Friday, March 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Curis in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $17.00.

Institutional Trading of Curis

Large investors have recently made changes to their positions in the company. Armistice Capital LLC increased its holdings in Curis by 8.7% in the third quarter. Armistice Capital LLC now owns 978,190 shares of the biotechnology company’s stock valued at $1,624,000 after buying an additional 78,265 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of Curis by 7.8% during the second quarter. Maverick Capital Ltd. now owns 681,381 shares of the biotechnology company’s stock worth $1,472,000 after buying an additional 49,554 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Curis by 52.2% in the first quarter. Renaissance Technologies LLC now owns 366,740 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 125,823 shares during the period. CM Management LLC raised its position in Curis by 47.7% during the 3rd quarter. CM Management LLC now owns 325,000 shares of the biotechnology company’s stock worth $540,000 after buying an additional 105,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Curis by 2,883,237.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,667 shares of the biotechnology company’s stock worth $228,000 after purchasing an additional 230,659 shares in the last quarter. 29.97% of the stock is currently owned by hedge funds and other institutional investors.

About Curis

Curis, Inc is a biotechnology company focused on the discovery, development and commercialization of targeted small molecule and antibody therapeutics for the treatment of cancer. The company’s research centers on exploiting key signaling pathways and tumor microenvironment interactions to develop compounds with the potential to address unmet medical needs. Curis’ proprietary pipeline includes multiple programs at various stages of clinical and preclinical development, reflecting its emphasis on innovative oncology drug candidates.

Among Curis’ lead assets is CA-4948, an oral inhibitor of interleukin-1 receptor–associated kinase 4 (IRAK4) partnered with Ikena Oncology, which is being evaluated in hematologic malignancies and solid tumors.