EntreMed, Inc. (NASDAQ:CASI) rose 5.2% on Thursday . The company traded as high as $6.80 and last traded at $6.73. Approximately 727,305 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 511,547 shares. The stock had previously closed at $6.40.
CASI has been the topic of a number of research analyst reports. ValuEngine downgraded EntreMed from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 target price on shares of EntreMed in a report on Monday, January 29th. Finally, BidaskClub downgraded EntreMed from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th.
The stock has a market capitalization of $506.52, a PE ratio of -37.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.66 and a quick ratio of 8.66.
In other EntreMed news, Director Wei-Wu He bought 3,086,419 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were purchased at an average price of $3.24 per share, for a total transaction of $9,999,997.56. Following the purchase, the director now directly owns 847,527 shares of the company’s stock, valued at $2,745,987.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder China Growth Fund Idg-Accel II bought 3,086,418 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average price of $3.19 per share, for a total transaction of $9,845,673.42. The disclosure for this purchase can be found here. Company insiders own 24.52% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CASI. Geode Capital Management LLC boosted its stake in shares of EntreMed by 488.7% in the 4th quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock worth $733,000 after buying an additional 187,263 shares during the last quarter. BlackRock Inc. boosted its stake in shares of EntreMed by 32.6% in the 4th quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock worth $1,254,000 after buying an additional 94,984 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of EntreMed in the 4th quarter worth approximately $272,000. Millennium Management LLC purchased a new position in shares of EntreMed in the 4th quarter worth approximately $137,000. Finally, Renaissance Technologies LLC raised its holdings in shares of EntreMed by 33.4% in the 4th quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock worth $489,000 after purchasing an additional 37,700 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.
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EntreMed Company Profile
CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.
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