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

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

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $2.16 on Thursday. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The company has a fifty day simple moving average of $2.39 and a 200-day simple moving average of $3.90. The stock has a market cap of $33.39 million, a P/E ratio of -0.97 and a beta of 0.41. CASI Pharmaceuticals has a 12-month low of $2.04 and a 12-month high of $7.67.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP grew its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the SEC. Hedge funds and other 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.