StockNews.com Initiates Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

Investment analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

Shares of NASDAQ CASI opened at $2.42 on Friday. The stock has a fifty day moving average price of $2.66 and a 200 day moving average price of $4.59. CASI Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $7.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The company has a market cap of $37.49 million, a PE ratio of -1.09 and a beta of 0.60.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals makes up 1.7% of Foresite Capital Management VI LLC’s portfolio, making the stock its 13th biggest position. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

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.