CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report report published on Friday morning. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Down 8.2 %

CASI stock opened at $2.46 on Friday. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $7.67. The business has a 50-day simple moving average of $2.85 and a 200 day simple moving average of $4.94. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. The company has a market cap of $38.11 million, a PE ratio of -1.10 and a beta of 0.60.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC boosted its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

About CASI Pharmaceuticals

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.