CASI Pharmaceuticals, Inc. (CASI) Sees Strong Trading Volume After Insider Buying Activity
CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares saw unusually-strong trading volume on Wednesday after an insider bought additional shares in the company. Approximately 16,413,835 shares were traded during mid-day trading, an increase of 19,520% from the previous session’s volume of 83,658 shares.The stock last traded at $3.73 and had previously closed at $2.22.
Specifically, Director Wei-Wu He acquired 173,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was acquired at an average cost of $1.75 per share, for a total transaction of $303,625.00. Following the completion of the acquisition, the director now owns 513,525 shares in the company, valued at $898,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have purchased 896,329 shares of company stock valued at $1,452,138. 13.01% of the stock is owned by corporate insiders.
Several analysts recently issued reports on CASI shares. ValuEngine upgraded CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Maxim Group reiterated a “buy” rating and set a $4.00 price objective on shares of CASI Pharmaceuticals in a report on Friday, September 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $2.00 price objective on shares of CASI Pharmaceuticals in a report on Friday, September 8th.
The stock has a 50 day moving average of $1.43 and a 200 day moving average of $1.16. The stock’s market capitalization is $225.74 million.
CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings data on Monday, August 14th. The biotechnology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Equities research analysts predict that CASI Pharmaceuticals, Inc. will post ($0.15) EPS for the current year.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. It operates through the development of targeted therapeutics for the treatment of cancer segment. Its product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, and early-stage candidates in preclinical development.
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