CASI Pharmaceuticals (NASDAQ:CASI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.04 and traded as high as $6.20. CASI Pharmaceuticals shares last traded at $5.99, with a volume of 26,014 shares traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on CASI Pharmaceuticals in a report on Saturday, August 3rd. They set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Down 0.4 %

The company’s 50 day moving average price is $6.14 and its two-hundred day moving average price is $5.07. The company has a current ratio of 3.88, a quick ratio of 2.36 and a debt-to-equity ratio of 2.05. The stock has a market cap of $92.91 million, a P/E ratio of -2.87 and a beta of 0.69.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings results on Friday, August 16th. The biotechnology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.11. CASI Pharmaceuticals had a negative net margin of 118.81% and a negative return on equity of 126.20%. The business had revenue of $3.98 million for the quarter, compared to analysts’ expectations of $4.43 million.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 0.30% of CASI Pharmaceuticals at the end of the most recent quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of China, the United States, and internationally. It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.