EntreMed, Inc. (NASDAQ:CASI) shares hit a new 52-week high and low during trading on Friday . The stock traded as low as $7.59 and last traded at $7.01, with a volume of 4544093 shares. The stock had previously closed at $6.15.
Several research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of EntreMed in a research note on Tuesday, January 16th. ValuEngine upgraded shares of EntreMed from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, BidaskClub upgraded shares of EntreMed from a “hold” rating to a “buy” rating in a research note on Wednesday.
The company has a market capitalization of $489.80, a P/E ratio of -38.94 and a beta of 0.90.
EntreMed (NASDAQ:CASI) last announced its quarterly earnings results on Thursday, March 29th. The biotechnology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). equities research analysts expect that EntreMed, Inc. will post -0.13 earnings per share for the current year.
In other EntreMed news, major shareholder China Growth Fund Idg-Accel II purchased 3,086,418 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were bought at an average price of $3.19 per share, for a total transaction of $9,845,673.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wei-Wu He purchased 3,086,419 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were acquired at an average price of $3.24 per share, for a total transaction of $9,999,997.56. Following the purchase, the director now owns 847,527 shares in the company, valued at $2,745,987.48. The disclosure for this purchase can be found here. Corporate insiders own 24.52% of the company’s stock.
A number of large investors have recently bought and sold shares of CASI. Geode Capital Management LLC grew its stake in EntreMed by 488.7% in the 4th quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock valued at $733,000 after buying an additional 187,263 shares during the last quarter. BlackRock Inc. grew its stake in EntreMed by 32.6% in the 4th quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock valued at $1,254,000 after buying an additional 94,984 shares during the last quarter. Perceptive Advisors LLC acquired a new position in EntreMed in the 4th quarter valued at $272,000. Millennium Management LLC acquired a new position in EntreMed in the 4th quarter valued at $137,000. Finally, Renaissance Technologies LLC grew its stake in EntreMed by 33.4% in the 4th quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock valued at $489,000 after buying an additional 37,700 shares during the last quarter. Institutional investors and hedge funds own 5.11% 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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