CASI - CASI Pharma rises on insider purchases from CEO

Rockville, Maryland-based CASI Pharmaceuticals (NASDAQ:CASI) has added ~11.6% in the pre-market on below-average volume after its CEO Wei-Wu He disclosed the purchase of 400K company shares. About 456.7K CASI (CASI) shares have changed hands so far, compared to the 65-day average volume of ~2.7M shares. A regulatory filing submitted on Friday indicates Wei-Wu He made the purchases in two transactions each for 200K shares at a price of $0.99 and $0.98 apiece. The transactions that took place on Wednesday and Thursday had increased his stake in the company to ~5.6M shares. The insider purchases have come less than a week after CASI (CASI) reported better than expected revenue for Q3 2021. Currently, the microcap biotech has no Neutral or Bearish ratings among Wall Street analysts, as indicated in the diagram below.

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CASI Pharma rises on insider purchases from CEO