CASI Pharmaceuticals Stock Scheduled to Reverse Split on Wednesday, June 1st (NASDAQ:CASI)

CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Rating) shares are set to reverse split before the market opens on Wednesday, June 1st. The 1-10 reverse split was announced on Wednesday, June 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, June 1st.

CASI Pharmaceuticals stock opened at $0.37 on Friday. The stock’s 50 day moving average price is $0.57 and its 200 day moving average price is $0.73. The firm has a market capitalization of $50.34 million, a PE ratio of -1.68 and a beta of 0.66. CASI Pharmaceuticals has a one year low of $0.31 and a one year high of $1.78.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last announced its earnings results on Thursday, May 12th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. CASI Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 93.65%. The company had revenue of $9.06 million for the quarter, compared to analyst estimates of $9.15 million. During the same period in the prior year, the company posted ($0.11) EPS. On average, sell-side analysts anticipate that CASI Pharmaceuticals will post -0.22 earnings per share for the current year.

CASI has been the subject of a number of research analyst reports. HC Wainwright lowered their price target on CASI Pharmaceuticals from $4.00 to $3.00 in a report on Friday, May 13th. Zacks Investment Research upgraded CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Finally, StockNews.com began coverage on CASI Pharmaceuticals in a research note on Sunday, May 22nd. They set a “hold” rating for the company.

A number of institutional investors and hedge funds have recently modified their holdings of CASI. UBS Group AG grew its stake in CASI Pharmaceuticals by 493.1% during the 3rd quarter. UBS Group AG now owns 26,715 shares of the biotechnology company’s stock worth $32,000 after buying an additional 22,211 shares during the last quarter. Citadel Advisors LLC bought a new position in CASI Pharmaceuticals during the 3rd quarter worth $35,000. Marshall Wace LLP bought a new position in CASI Pharmaceuticals during the 1st quarter worth $44,000. Citigroup Inc. bought a new position in shares of CASI Pharmaceuticals in the first quarter worth $59,000. Finally, Virtu Financial LLC grew its stake in shares of CASI Pharmaceuticals by 164.4% in the fourth quarter. Virtu Financial LLC now owns 80,806 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 50,246 shares in the last quarter. Hedge funds and other institutional investors own 39.51% of the company’s stock.

CASI Pharmaceuticals Company Profile (Get Rating)

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in China, the United States, and internationally. It 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.

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