StockNews.com Begins Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

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

CASI Pharmaceuticals Price Performance

Shares of NASDAQ:CASI opened at $2.39 on Monday. The company has a market cap of $37.03 million, a P/E ratio of -1.07 and a beta of 0.60. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $7.67. The business has a fifty day simple moving average of $2.60 and a 200-day simple moving average of $4.41.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP increased its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,690 shares of the biotechnology company’s stock after purchasing 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 SEC filing. 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.