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

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report released on Thursday. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Up 5.1 %

NASDAQ CASI opened at $2.49 on Thursday. The company’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $5.10. CASI Pharmaceuticals has a one year low of $2.05 and a one year high of $7.67. The company has a market capitalization of $38.57 million, a price-to-earnings ratio of -1.12 and a beta of 0.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC lifted 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. The institutional investor owned 40,800 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the period. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent quarter. 22.23% of the stock is owned by institutional investors and hedge funds.

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.