CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

Shares of CASI stock opened at $2.49 on Thursday. The stock has a 50 day moving average price of $3.05 and a 200 day moving average price of $5.10. CASI Pharmaceuticals has a 52-week low of $2.05 and a 52-week high of $7.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The firm has a market capitalization of $38.57 million, a P/E ratio of -1.12 and a beta of 0.62.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after buying an additional 4,000 shares during the period. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 22.23% of the stock is currently owned by 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.