CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Down 2.9 %

Shares of CASI stock opened at $2.23 on Wednesday. CASI Pharmaceuticals has a 1 year low of $2.04 and a 1 year high of $7.67. The firm has a fifty day moving average price of $2.43 and a 200-day moving average price of $4.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The company has a market cap of $34.61 million, a price-to-earnings ratio of -1.00 and a beta of 0.41.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for about 1.7% of Foresite Capital Management VI LLC’s holdings, 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 quarter. 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.