Stonepine Capital Management LLC Invests $1.73 Billion in Curis, Inc. $CRIS

Stonepine Capital Management LLC acquired a new stake in shares of Curis, Inc. (NASDAQ:CRIS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,312,185 shares of the biotechnology company’s stock, valued at approximately $1,729,292,000. Curis makes up approximately 0.9% of Stonepine Capital Management LLC’s holdings, making the stock its 29th largest position. Stonepine Capital Management LLC owned 1.58% of Curis at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cable Car Capital LP purchased a new stake in Curis during the second quarter valued at about $696,000. Armistice Capital LLC boosted its holdings in shares of Curis by 8.7% in the 3rd quarter. Armistice Capital LLC now owns 978,190 shares of the biotechnology company’s stock worth $1,624,000 after purchasing an additional 78,265 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Curis by 7.8% during the 2nd quarter. Maverick Capital Ltd. now owns 681,381 shares of the biotechnology company’s stock valued at $1,472,000 after purchasing an additional 49,554 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Curis by 52.2% during the 1st 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 last quarter. Finally, Flputnam Investment Management Co. purchased a new position in shares of Curis during the 2nd quarter valued at about $128,000. 29.97% of the stock is owned by institutional investors.

Curis Trading Down 2.6%

CRIS opened at $1.50 on Friday. The company has a market cap of $3.13 million, a P/E ratio of -0.11 and a beta of 3.13. The business’s 50-day moving average price is $4.60 and its 200-day moving average price is $10.62. Curis, Inc. has a 12 month low of $1.40 and a 12 month high of $39.00.

Curis (NASDAQ:CRIS) last released its earnings results on Friday, August 14th. The biotechnology company reported ($4.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.95) by $2.93. Curis had a negative return on equity of 2,365.94% and a negative net margin of 80.29%. Equities research analysts forecast that Curis, Inc. will post -24.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CRIS. Weiss Ratings restated a “sell (e+)” rating on shares of Curis in a research report on Friday, July 17th. Zacks Research cut shares of Curis from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Curis in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Curis from a “strong sell” rating to a “hold” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $43.00.

Curis Profile

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.