Charles Schwab Corp (SCHW) and Two Low-Priced Stocks Witness Robust Insider Buying

CASI Pharmaceuticals Inc. (NASDAQ:CASI) had two of its most influential insiders make big purchases this week. Chief Executive Officer Ken Keyong Ren snapped up a new stake of 15,000 shares on Tuesday at prices ranging from $0.71 to $0.74 per share. Moreover, Chief Operating Officer Cynthia W. Hu bought 16,800 shares on the same day at a weighted average cost of $0.72 and currently holds 17,785 units of common stock. The shares of the biopharmaceutical company that mainly focuses on China are down by 57% over the past year. The company’s leading internal drug candidate is ENMD-2076, a selective Aurora A and angiogenic kinase inhibitor for the treatment of cancer. Back in September 2014, CASI Pharmaceuticals acquired exclusive rights in greater China (which includes Taiwan, Hong Kong and Macau) to three in-licensed oncology products from Spectrum Pharmaceuticals. CASI has been working on obtaining marketing approval for ZEVALIN and MAEQIBO, both of which are approved in the United States, in the markets it operates and has already started commercial activities for ZEVALIN in Hong Kong.

CASI reported revenue of $48,000 for the nine months that ended September 30, which was earned from the dosing of ZEVALIN to patients in Hong Kong. A mere four hedge funds tracked by Insider Monkey were invested in the company at the end of the third quarter. Hal Mintz’s Sabby Management LLC holds a 202,536-share stake in CASI Pharmaceuticals Inc. (NASDAQ:CASI) as of September 30.

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