Wellington Shields Capital Management LLC Trims Holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI)

Wellington Shields Capital Management LLC cut its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASIFree Report) by 30.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,217 shares of the biotechnology company’s stock after selling 40,929 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in CASI Pharmaceuticals were worth $333,000 at the end of the most recent quarter.

CASI Pharmaceuticals Trading Down 3.7 %

Shares of CASI traded down $0.25 during mid-day trading on Wednesday, hitting $6.59. The company had a trading volume of 56,270 shares, compared to its average volume of 213,223. CASI Pharmaceuticals, Inc. has a 1-year low of $1.90 and a 1-year high of $8.48. The business’s 50-day simple moving average is $3.65 and its 200-day simple moving average is $4.42. The stock has a market cap of $88.31 million, a PE ratio of -3.00 and a beta of 0.68. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20.

CASI Pharmaceuticals (NASDAQ:CASIGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). The company had revenue of $3.41 million during the quarter. CASI Pharmaceuticals had a negative net margin of 105.76% and a negative return on equity of 110.11%. Sell-side analysts forecast that CASI Pharmaceuticals, Inc. will post -2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CASI. StockNews.com began coverage on shares of CASI Pharmaceuticals in a research report on Wednesday. They set a “hold” rating on the stock. HC Wainwright dropped their target price on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th.

View Our Latest Stock Analysis on CASI

CASI Pharmaceuticals Company Profile

(Free Report)

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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