CASI Pharmaceuticals (NASDAQ:CASI) Trading Down 7.3%

Shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) fell 7.3% during trading on Tuesday . The stock traded as low as $2.46 and last traded at $2.54. 547,963 shares were traded during mid-day trading, an increase of 1% from the average session volume of 540,728 shares. The stock had previously closed at $2.74.

Separately, Oppenheimer reissued a “buy” rating and issued a $5.00 target price on shares of CASI Pharmaceuticals in a report on Tuesday, November 10th.

The firm’s fifty day moving average price is $3.19 and its 200 day moving average price is $2.32. The stock has a market cap of $314.82 million, a PE ratio of -6.09 and a beta of 0.41.

Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in CASI Pharmaceuticals in the first quarter worth $44,000. Bank of America Corp DE increased its position in CASI Pharmaceuticals by 103.7% in the second quarter. Bank of America Corp DE now owns 18,490 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 9,415 shares during the last quarter. American International Group Inc. increased its position in CASI Pharmaceuticals by 20.1% in the third quarter. American International Group Inc. now owns 39,530 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 6,612 shares during the last quarter. GSA Capital Partners LLP bought a new stake in CASI Pharmaceuticals in the third quarter worth $31,000. Finally, BlackRock Inc. increased its position in CASI Pharmaceuticals by 1.0% in the third quarter. BlackRock Inc. now owns 3,511,724 shares of the biotechnology company’s stock worth $5,373,000 after purchasing an additional 36,422 shares during the last quarter. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile (NASDAQ:CASI)

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes 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.

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