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

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

CASI Pharmaceuticals Stock Performance

NASDAQ CASI opened at $2.50 on Friday. The company has a market cap of $38.73 million, a P/E ratio of -1.12 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The business’s 50 day moving average price is $2.72 and its 200-day moving average price is $4.73. CASI Pharmaceuticals has a fifty-two week low of $2.05 and a fifty-two week high of $7.67.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP lifted its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by hedge funds and other 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.