CASI Pharmaceuticals (NASDAQ:CASI) Shares Cross Above 200-Day Moving Average – Should You Sell?

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.93 and traded as high as $5.66. CASI Pharmaceuticals shares last traded at $5.49, with a volume of 10,524 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on CASI Pharmaceuticals in a research note on Saturday, August 3rd. They set a “hold” rating on the stock.

CASI Pharmaceuticals Trading Up 4.8 %

The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.36 and a current ratio of 3.88. The company has a market cap of $81.88 million, a price-to-earnings ratio of -2.85 and a beta of 0.69. The company’s fifty day moving average is $6.20 and its two-hundred day moving average is $4.94.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.11. CASI Pharmaceuticals had a negative net margin of 118.81% and a negative return on equity of 126.20%. The business had revenue of $3.98 million for the quarter, compared to the consensus estimate of $4.43 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile

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.