Curis (CRIS) Stock Price Down 5.3%

Curis, Inc. (NASDAQ:CRIS) dropped 5.3% on Wednesday . The company traded as low as $0.71 and last traded at $0.72. Approximately 2,245,796 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 1,698,782 shares. The stock had previously closed at $0.76.

CRIS has been the subject of a number of research analyst reports. Guggenheim initiated coverage on Curis in a report on Monday, October 23rd. They issued a “buy” rating and a $7.00 price target for the company. Zacks Investment Research downgraded Curis from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.50.

The firm has a market capitalization of $118.07, a P/E ratio of -1.73 and a beta of 1.63. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.24.

Curis (NASDAQ:CRIS) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $2.44 million for the quarter, compared to the consensus estimate of $2.19 million. Curis had a negative return on equity of 250.58% and a negative net margin of 629.29%. Curis’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) earnings per share. equities analysts predict that Curis, Inc. will post -0.41 earnings per share for the current fiscal year.

In related news, CEO Ali Ph.D. Fattaey acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the purchase, the chief executive officer now directly owns 115,890 shares in the company, valued at $122,843.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.07% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CRIS. FNY Partners Fund LP boosted its position in Curis by 350.0% during the 3rd quarter. FNY Partners Fund LP now owns 67,500 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 52,500 shares during the period. OxFORD Asset Management LLP acquired a new position in Curis during the 2nd quarter worth $115,000. Voya Investment Management LLC boosted its position in Curis by 21.8% during the 2nd quarter. Voya Investment Management LLC now owns 68,138 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 12,207 shares during the period. Alliancebernstein L.P. boosted its position in Curis by 338.7% during the 2nd quarter. Alliancebernstein L.P. now owns 83,800 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 64,700 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Curis by 8.8% during the 2nd 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. Hedge funds and other institutional investors own 55.22% of the company’s stock.

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Curis Company Profile

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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