Wellington Shields Capital Management LLC Cuts Stake in CASI Pharmaceuticals Inc (NASDAQ:CASI)

Wellington Shields Capital Management LLC decreased its holdings in CASI Pharmaceuticals Inc (NASDAQ:CASI) by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,141,237 shares of the biotechnology company’s stock after selling 4,712 shares during the period. Wellington Shields Capital Management LLC owned approximately 1.19% of CASI Pharmaceuticals worth $3,652,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CASI. Bank of New York Mellon Corp increased its stake in CASI Pharmaceuticals by 12.9% in the fourth quarter. Bank of New York Mellon Corp now owns 172,947 shares of the biotechnology company’s stock valued at $695,000 after acquiring an additional 19,781 shares during the last quarter. Geode Capital Management LLC boosted its position in CASI Pharmaceuticals by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 584,970 shares of the biotechnology company’s stock valued at $2,351,000 after buying an additional 75,815 shares in the last quarter. Bank of America Corp DE boosted its position in CASI Pharmaceuticals by 132.9% in the fourth quarter. Bank of America Corp DE now owns 28,954 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 16,521 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in CASI Pharmaceuticals in the first quarter valued at approximately $30,000. Finally, Alps Advisors Inc. boosted its position in CASI Pharmaceuticals by 4.5% in the first quarter. Alps Advisors Inc. now owns 230,154 shares of the biotechnology company’s stock valued at $661,000 after buying an additional 9,939 shares in the last quarter. 12.11% of the stock is owned by institutional investors.

A number of analysts have weighed in on CASI shares. BidaskClub lowered shares of CASI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of CASI Pharmaceuticals in a research report on Thursday, May 16th.

CASI Pharmaceuticals stock traded up $0.04 during mid-day trading on Thursday, reaching $3.15. The company had a trading volume of 650 shares, compared to its average volume of 196,624. CASI Pharmaceuticals Inc has a fifty-two week low of $2.73 and a fifty-two week high of $7.18. The company has a market cap of $300.57 million, a P/E ratio of -9.78 and a beta of 1.08. The business has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $3.21.

In related news, CEO Wei-Wu He bought 160,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $3.17 per share, for a total transaction of $507,200.00. Following the completion of the transaction, the chief executive officer now directly owns 807,527 shares of the company’s stock, valued at approximately $2,559,860.59. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 24.29% of the company’s stock.

CASI Pharmaceuticals Profile

CASI Pharmaceuticals, Inc, a pharmaceutical company, develops pharmaceutical products and various therapeutics in China, the United States, and internationally. The company's product pipeline includes EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

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

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