CASI Pharmaceuticals (NASDAQ:CASI) Shares Pass Above Two Hundred Day Moving Average of $4.60

CASI Pharmaceuticals, Inc. (NASDAQ:CASI)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.60 and traded as high as $6.59. CASI Pharmaceuticals shares last traded at $6.14, with a volume of 16,775 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a research note on Saturday, August 3rd. They set a “hold” rating for the company.

CASI Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.36 and a current ratio of 3.88. The company has a market capitalization of $82.28 million, a P/E ratio of -2.69 and a beta of 0.70. The firm’s fifty day moving average is $6.61 and its 200 day moving average is $4.60.

CASI Pharmaceuticals (NASDAQ:CASI) last released its earnings results on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. CASI Pharmaceuticals had a negative return on equity of 126.20% and a negative net margin of 118.81%. The firm had revenue of $3.98 million for the quarter, compared to analysts’ expectations of $4.43 million. As a group, analysts predict that CASI Pharmaceuticals, Inc. will post -2.56 earnings per share for the current fiscal year.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC lifted its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned about 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.

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.