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

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

CASI Pharmaceuticals Price Performance

Shares of CASI stock opened at $3.61 on Thursday. CASI Pharmaceuticals has a 1 year low of $1.85 and a 1 year high of $8.48. The firm has a fifty day moving average price of $5.19 and a 200-day moving average price of $4.84. The company has a market cap of $48.29 million and a price-to-earnings ratio of -1.20.

Institutional Investors Weigh In On CASI Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in CASI Pharmaceuticals in the 3rd quarter worth $27,000. Citigroup Inc. bought a new position in CASI Pharmaceuticals in the 1st quarter worth $59,000. Virtu Financial LLC boosted its holdings in CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after buying an additional 31,971 shares during the period. Finally, Susquehanna International Group LLP boosted its holdings in CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after buying an additional 23,758 shares during the period. Institutional investors 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.