CASI Pharmaceuticals (NASDAQ:CASI) Shares Pass Above 200-Day Moving Average – Should You Sell?

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.77 and traded as high as $7.50. CASI Pharmaceuticals shares last traded at $6.05, with a volume of 208,073 shares trading hands.

Analyst Ratings Changes

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

CASI Pharmaceuticals Stock Up 6.1 %

The stock has a 50 day simple moving average of $6.39 and a 200-day simple moving average of $4.77. The firm has a market cap of $81.08 million, a PE ratio of -2.65 and a beta of 0.69. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.88 and a quick ratio of 2.36.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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. 22.23% of the stock is owned by 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.