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

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

CASI has been the subject of several other research reports. HC Wainwright reduced their price objective on shares of CASI Pharmaceuticals from $12.00 to $10.00 and set a buy rating for the company in a research note on Tuesday, November 15th. BTIG Research reduced their price objective on shares of CASI Pharmaceuticals from $21.00 to $10.00 and set a buy rating for the company in a research note on Wednesday, November 16th.

CASI Pharmaceuticals Stock Up 2.1 %

CASI opened at $1.91 on Friday. The company has a market capitalization of $25.99 million, a price-to-earnings ratio of -0.98 and a beta of 0.43. The firm has a 50-day moving average price of $2.55 and a 200-day moving average price of $3.00. CASI Pharmaceuticals has a twelve month low of $1.81 and a twelve month high of $10.50.

Insider Activity at CASI Pharmaceuticals

In other news, Director James Huang acquired 19,162 shares of CASI Pharmaceuticals stock in a transaction that occurred on Tuesday, September 6th. The stock was bought at an average price of $3.89 per share, with a total value of $74,540.18. Following the completion of the purchase, the director now owns 335,106 shares in the company, valued at $1,303,562.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 96,989 shares of company stock valued at $384,040. Corporate insiders own 26.59% of the company’s stock.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in CASI Pharmaceuticals during the third quarter valued at approximately $27,000. Prudential Financial Inc. bought a new stake in CASI Pharmaceuticals during the third quarter valued at approximately $29,000. Bailard Inc. lifted its position in CASI Pharmaceuticals by 25.6% during the second quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 6,430 shares during the last quarter. Virtu Financial LLC lifted its position in CASI Pharmaceuticals by 39.6% during the first quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 31,971 shares during the last quarter. Finally, Citigroup Inc. bought a new stake in CASI Pharmaceuticals during the first quarter valued at approximately $59,000. 36.51% of the stock is currently owned by institutional investors.

CASI Pharmaceuticals Company Profile

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CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in 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.

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