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

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

CASI Pharmaceuticals Stock Performance

Shares of CASI opened at $2.20 on Thursday. The firm has a fifty day moving average of $2.39 and a 200-day moving average of $3.93. The company has a market cap of $34.08 million, a price-to-earnings ratio of -0.99 and a beta of 0.41. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. CASI Pharmaceuticals has a 1 year low of $2.04 and a 1 year high of $7.67.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the period. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent SEC filing. 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.