Wellington Shields Capital Management LLC Boosts Position in CASI Pharmaceuticals Inc (CASI)

Wellington Shields Capital Management LLC boosted its stake in CASI Pharmaceuticals Inc (NASDAQ:CASI) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 888,333 shares of the biotechnology company’s stock after acquiring an additional 33,277 shares during the quarter. CASI Pharmaceuticals comprises 0.7% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Wellington Shields Capital Management LLC’s holdings in CASI Pharmaceuticals were worth $4,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. acquired a new position in shares of CASI Pharmaceuticals during the 2nd quarter worth about $1,029,000. MetLife Investment Advisors LLC acquired a new position in shares of CASI Pharmaceuticals during the 2nd quarter worth about $217,000. Strs Ohio acquired a new position in shares of CASI Pharmaceuticals during the 2nd quarter worth about $108,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CASI Pharmaceuticals during the 2nd quarter worth about $101,000. Finally, Royce & Associates LP acquired a new position in shares of CASI Pharmaceuticals during the 2nd quarter worth about $988,000. 11.40% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of CASI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. ValuEngine lowered shares of CASI Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 28th.

Shares of CASI Pharmaceuticals stock traded down $0.11 during trading on Friday, hitting $3.48. 1,801 shares of the stock were exchanged, compared to its average volume of 434,096. The firm has a market capitalization of $312.59 million, a PE ratio of -19.56 and a beta of 1.33. CASI Pharmaceuticals Inc has a 1-year low of $2.32 and a 1-year high of $8.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 26.01 and a quick ratio of 26.01.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Tuesday, August 14th. The biotechnology company reported ($0.07) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.07). As a group, analysts expect that CASI Pharmaceuticals Inc will post -0.23 EPS for the current year.

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CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma and triple-negative breast cancer.

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

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