CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Monday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $2.28 on Monday. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. The business has a 50-day simple moving average of $2.61 and a 200 day simple moving average of $4.44. The stock has a market cap of $35.32 million, a price-to-earnings ratio of -1.02 and a beta of 0.60. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $7.67.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises approximately 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest holding. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals at the end of the most recent reporting period. 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.