CASI Pharmaceuticals (NASDAQ:CASI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Free Report)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.19 and traded as high as $5.79. CASI Pharmaceuticals shares last traded at $5.48, with a volume of 21,567 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on CASI Pharmaceuticals in a report on Saturday, August 3rd. They issued a “hold” rating for the company.

Read Our Latest Stock Report on CASI Pharmaceuticals

CASI Pharmaceuticals Price Performance

The firm has a market capitalization of $84.73 million, a P/E ratio of -2.70 and a beta of 0.69. The company has a fifty day moving average of $6.07 and a 200 day moving average of $5.21. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.88 and a quick ratio of 2.36.

CASI Pharmaceuticals (NASDAQ:CASIGet Free Report) last posted its quarterly earnings data on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.98 million for the quarter, compared to analyst estimates of $4.43 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC increased its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASIFree Report) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

CASI Pharmaceuticals Company Profile

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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.

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