Credit Suisse AG Takes Position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI)

Credit Suisse AG purchased a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,406 shares of the biotechnology company’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of CASI Pharmaceuticals by 3.8% in the 4th quarter. Northern Trust Corp now owns 940,103 shares of the biotechnology company’s stock worth $2,773,000 after buying an additional 34,777 shares during the last quarter. Citigroup Inc. lifted its stake in CASI Pharmaceuticals by 271.1% in the 4th quarter. Citigroup Inc. now owns 11,781 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 8,606 shares in the last quarter. Rhumbline Advisers boosted its position in shares of CASI Pharmaceuticals by 11.5% during the 4th quarter. Rhumbline Advisers now owns 73,286 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 7,533 shares during the last quarter. Wells Fargo & Company MN increased its stake in CASI Pharmaceuticals by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 169,768 shares of the biotechnology company’s stock worth $501,000 after acquiring an additional 6,904 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in CASI Pharmaceuticals by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 187,679 shares of the biotechnology company’s stock valued at $554,000 after buying an additional 12,030 shares during the period. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Wei-Wu He purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The shares were bought at an average price of $2.05 per share, for a total transaction of $6,150,000.00. Following the completion of the transaction, the chief executive officer now owns 4,683,994 shares in the company, valued at $9,602,187.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.75% of the stock is owned by company insiders.

CASI stock opened at $1.81 on Friday. The company has a market capitalization of $253.03 million, a PE ratio of -4.02 and a beta of 0.41. The firm’s 50-day moving average is $2.26 and its 200 day moving average is $2.46. CASI Pharmaceuticals, Inc. has a 12 month low of $1.46 and a 12 month high of $3.90.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its earnings results on Monday, March 29th. The biotechnology company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.05). CASI Pharmaceuticals had a negative net margin of 402.87% and a negative return on equity of 60.96%. As a group, analysts predict that CASI Pharmaceuticals, Inc. will post -0.36 earnings per share for the current fiscal year.

CASI Pharmaceuticals Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in China, the United States, and internationally. The company 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, which has completed Phase I studies in China.

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

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