Wellington Shields Capital Management LLC Grows Stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI)

Wellington Shields Capital Management LLC lifted its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,258,264 shares of the biotechnology company’s stock after purchasing an additional 26,499 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in CASI Pharmaceuticals were worth $3,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its position in shares of CASI Pharmaceuticals by 45.0% in the 1st quarter. Federated Hermes Inc. now owns 10,150,000 shares of the biotechnology company’s stock valued at $24,360,000 after purchasing an additional 3,150,000 shares during the period. BlackRock Inc. boosted its position in shares of CASI Pharmaceuticals by 4.6% in the 1st quarter. BlackRock Inc. now owns 4,006,960 shares of the biotechnology company’s stock valued at $9,618,000 after purchasing an additional 176,494 shares during the period. Renaissance Technologies LLC boosted its position in shares of CASI Pharmaceuticals by 504.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,546,306 shares of the biotechnology company’s stock valued at $2,397,000 after purchasing an additional 1,290,606 shares during the period. Geode Capital Management LLC boosted its position in shares of CASI Pharmaceuticals by 14.1% in the 1st quarter. Geode Capital Management LLC now owns 1,092,677 shares of the biotechnology company’s stock valued at $2,622,000 after purchasing an additional 135,339 shares during the period. Finally, Ghost Tree Capital LLC acquired a new stake in shares of CASI Pharmaceuticals in the 1st quarter valued at about $1,560,000. 33.42% of the stock is owned by hedge funds and other institutional investors.

CASI Pharmaceuticals stock traded down $0.02 during mid-day trading on Monday, reaching $1.14. 4,799 shares of the company were exchanged, compared to its average volume of 1,629,971. CASI Pharmaceuticals, Inc. has a twelve month low of $1.13 and a twelve month high of $3.90. The firm’s 50-day simple moving average is $1.35 and its two-hundred day simple moving average is $1.50. The firm has a market cap of $158.67 million, a PE ratio of -2.74 and a beta of 0.19.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings data on Wednesday, August 11th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. CASI Pharmaceuticals had a negative return on equity of 56.52% and a negative net margin of 236.69%. The company had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.15 million. Sell-side analysts predict that CASI Pharmaceuticals, Inc. will post -0.26 EPS for the current fiscal year.

Separately, Zacks Investment Research cut CASI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CASI Pharmaceuticals has an average rating of “Buy” and a consensus target price of $3.66.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc is a biopharmaceutical company, which is focused on the acquisition, development and commercialization of therapeutics addressing cancer and other unmet medical needs. The company develops and commercializes the oncology drugs and drug candidates in China, Taiwan, Hong Kong, and Macau.

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Institutional Ownership by Quarter for CASI Pharmaceuticals (NASDAQ:CASI)

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