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

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

CASI Pharmaceuticals Stock Down 2.9 %

Shares of CASI stock opened at $2.23 on Wednesday. The company’s fifty day simple moving average is $2.43 and its two-hundred day simple moving average is $4.06. 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 stock has a market cap of $34.61 million, a P/E ratio of -1.00 and a beta of 0.41. CASI Pharmaceuticals has a 52 week low of $2.04 and a 52 week high of $7.67.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP grew its stake 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 and Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 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.