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

Research analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Down 2.0 %

CASI opened at $2.16 on Thursday. The stock has a market capitalization of $33.39 million, a PE ratio of -0.97 and a beta of 0.41. CASI Pharmaceuticals has a one year low of $2.04 and a one year high of $7.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The business’s 50 day moving average price is $2.39 and its 200 day moving average price is $3.90.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC bought a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals accounts for about 1.7% of Foresite Capital Management VI LLC’s holdings, making the stock its 13th largest position. Foresite Capital Management VI LLC owned about 8.58% 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.