CASI Pharmaceuticals (NASDAQ:CASI) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.93 and traded as high as $5.66. CASI Pharmaceuticals shares last traded at $5.49, with a volume of 10,524 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research report on Saturday, August 3rd. They set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Down 1.1 %

The business has a 50-day moving average price of $6.21 and a 200-day moving average price of $4.93. The stock has a market cap of $73.57 million, a PE ratio of -2.41 and a beta of 0.69. The company has a current ratio of 3.88, a quick ratio of 2.36 and a debt-to-equity ratio of 2.05.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Friday, August 16th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.11. The company had revenue of $3.98 million during the quarter, compared to analysts’ expectations of $4.43 million. CASI Pharmaceuticals had a negative net margin of 118.81% and a negative return on equity of 126.20%.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC lifted its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the quarter. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 22.23% of the company’s stock.

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.