CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

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

CASI Pharmaceuticals Stock Down 1.7 %

CASI Pharmaceuticals stock opened at $2.09 on Tuesday. The firm has a market capitalization of $32.30 million, a price-to-earnings ratio of -0.93 and a beta of 0.41. The firm’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $4.25. CASI Pharmaceuticals has a 1-year low of $2.04 and a 1-year high of $7.67. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP raised its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the SEC. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

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.