CASI Pharmaceuticals (NASDAQ:CASI) Stock Price Crosses Above 200-Day Moving Average of $4.67

Shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.67 and traded as high as $6.01. CASI Pharmaceuticals shares last traded at $5.61, with a volume of 23,888 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of CASI Pharmaceuticals in a research note on Saturday, August 3rd. They set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Down 8.9 %

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 business’s 50 day moving average price is $6.54 and its 200 day moving average price is $4.67. The firm has a market cap of $75.18 million, a PE ratio of -2.46 and a beta of 0.70.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings data on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.11. The company had revenue of $3.98 million during the quarter, compared to analyst estimates of $4.43 million. CASI Pharmaceuticals had a negative return on equity of 126.20% and a negative net margin of 118.81%.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 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 at the end of the most recent quarter. Institutional investors own 22.23% of the company’s stock.

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.