CASI Pharmaceuticals (NASDAQ:CASI) Shares Pass Above Two Hundred Day Moving Average of $4.60

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.60 and traded as high as $6.59. CASI Pharmaceuticals shares last traded at $6.14, with a volume of 16,775 shares traded.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of CASI Pharmaceuticals in a research report on Saturday, August 3rd. They issued a “hold” rating for the company.

CASI Pharmaceuticals Trading Down 5.1 %

The company has a debt-to-equity ratio of 2.05, a current ratio of 3.88 and a quick ratio of 2.36. The stock’s 50-day simple moving average is $6.61 and its two-hundred day simple moving average is $4.60. The firm has a market capitalization of $82.28 million, a P/E ratio of -2.69 and a beta of 0.70.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Friday, August 16th. The biotechnology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.11. The firm had revenue of $3.98 million during the quarter, compared to analyst estimates of $4.43 million. CASI Pharmaceuticals had a negative net margin of 118.81% and a negative return on equity of 126.20%. Equities research analysts expect that CASI Pharmaceuticals, Inc. will post -2.56 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals as of its most recent SEC filing. 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.