Wellington Shields Capital Management LLC Sells 40,929 Shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI)

Wellington Shields Capital Management LLC trimmed its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 30.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 92,217 shares of the biotechnology company’s stock after selling 40,929 shares during the quarter. Wellington Shields Capital Management LLC owned about 0.69% of CASI Pharmaceuticals worth $333,000 at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CASI shares. StockNews.com assumed coverage on shares of CASI Pharmaceuticals in a report on Wednesday. They set a “hold” rating on the stock. HC Wainwright reduced their price objective on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Price Performance

Shares of CASI traded down $0.25 during mid-day trading on Wednesday, hitting $6.59. 56,270 shares of the stock were exchanged, compared to its average volume of 213,223. The firm has a 50-day moving average of $3.65 and a two-hundred day moving average of $4.42. The company has a market cap of $88.31 million, a PE ratio of -3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.25 and a current ratio of 5.05. CASI Pharmaceuticals, Inc. has a 52-week low of $1.90 and a 52-week high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.66). CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. The firm had revenue of $3.41 million during the quarter. On average, equities analysts predict that CASI Pharmaceuticals, Inc. will post -2.56 earnings per share for the current year.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of 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.