CASI Pharmaceuticals Inc (NASDAQ:CASI) CFO Brian D. Coleman bought 20,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $2.44 per share, for a total transaction of $48,800.00.

CASI stock traded down $0.15 during midday trading on Monday, hitting $3.38. 18,767 shares of the stock were exchanged, compared to its average volume of 203,181. The stock’s 50-day moving average price is $3.15 and its 200-day moving average price is $3.20. The stock has a market cap of $331.19 million, a price-to-earnings ratio of -10.56 and a beta of 1.11. CASI Pharmaceuticals Inc has a fifty-two week low of $2.73 and a fifty-two week high of $7.15.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Analysts predict that CASI Pharmaceuticals Inc will post -0.34 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CASI. Bank of America Corp DE increased its holdings in CASI Pharmaceuticals by 132.9% during the 4th quarter. Bank of America Corp DE now owns 28,954 shares of the biotechnology company’s stock valued at $117,000 after acquiring an additional 16,521 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of CASI Pharmaceuticals in the first quarter valued at about $30,000. Alps Advisors Inc. lifted its holdings in shares of CASI Pharmaceuticals by 4.5% in the first quarter. Alps Advisors Inc. now owns 230,154 shares of the biotechnology company’s stock valued at $661,000 after purchasing an additional 9,939 shares in the last quarter. Wellington Shields & Co. LLC grew its position in shares of CASI Pharmaceuticals by 4.3% in the first quarter. Wellington Shields & Co. LLC now owns 1,126,650 shares of the biotechnology company’s stock valued at $3,233,000 after purchasing an additional 46,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of CASI Pharmaceuticals in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 12.19% of the company’s stock.

A number of research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of CASI Pharmaceuticals in a report on Thursday, May 16th. BidaskClub lowered CASI Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a pharmaceutical company, develops pharmaceutical products and various therapeutics in China, the United States, and internationally. The company's product pipeline includes EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

Further Reading: Dead Cat Bounce

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