CASI Pharmaceuticals Begins Coverage by StockNews.com with a Hold Rating

On a recent Wednesday, StockNews.com initiated their coverage of CASI Pharmaceuticals, a NASDAQ-listed biotech firm. In their first analysis, the company was assigned a ‘hold’ rating, indicating a neutral viewpoint on the stock’s future performance.

Positive Movement in CASI Pharmaceuticals' Stock

The trading day opened with CASI shares priced at $3.08. A glimpse at the company’s stock performance reveals a 50-day moving average at $5.58 and a 200-day average at $4.82. CASI Pharmaceuticals boasts a modest market capitalization of $41.20 million, with a PE ratio resting at -1.02. The past year saw the stock hitting a low of $1.60 and peaking at an impressive $8.48.

Major Investment Activities by Institutional Players

Recent months have seen a shake-up in CASI Pharmaceuticals’ investor base. Groups such as Susquehanna International Group LLP expanded their hold by 70.6%, now owning shares worth $100,000. Additionally, newcomers like Renaissance Technologies LLC and Citigroup Inc. have opened stakes valued at $27,000 and $59,000, respectively. Another noteworthy investor, Virtu Financial LLC, increased their share by 39.6%, owning stock valued at $91,000. Overall, institutional investors hold 14.62% of CASI’s equity.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc. operates internationally but primarily focuses on the U.S. and Chinese markets. They develop and market pharmaceutical products and therapeutics such as EVOMELA, an intravenous melphalan used in stem cell transplantation and as a treatment for multiple myeloma.

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