CTI BioPharma (NASDAQ:CTIC) Trading 3% Higher

CTI BioPharma Corp. (NASDAQ:CTICGet Rating) shot up 3% on Thursday . The stock traded as high as $6.54 and last traded at $6.47. 38,773 shares were traded during trading, a decline of 99% from the average session volume of 4,699,589 shares. The stock had previously closed at $6.28.

Analyst Ratings Changes

Several research firms have recently weighed in on CTIC. Cowen began coverage on CTI BioPharma in a research report on Thursday, July 7th. They set an “outperform” rating and a $10.00 target price on the stock. Jefferies Financial Group began coverage on CTI BioPharma in a research report on Thursday. They set a “buy” rating and a $13.00 target price on the stock. JMP Securities boosted their target price on CTI BioPharma from $6.00 to $9.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 9th. Cowen started coverage on CTI BioPharma in a research report on Thursday, July 7th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on CTI BioPharma from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CTI BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

CTI BioPharma Trading Down 1.1 %

The company has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $5.15. The company has a market cap of $733.21 million, a P/E ratio of -5.25 and a beta of 0.86.

CTI BioPharma (NASDAQ:CTICGet Rating) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). During the same period last year, the firm posted ($0.21) earnings per share. On average, equities analysts forecast that CTI BioPharma Corp. will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other CTI BioPharma news, CFO David Kirske sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,397 shares in the company, valued at approximately $40,683.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Adam R. Craig acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $5.50 per share, for a total transaction of $27,500.00. Following the purchase, the chief executive officer now directly owns 27,861 shares of the company’s stock, valued at approximately $153,235.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Kirske sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the sale, the chief financial officer now owns 7,397 shares of the company’s stock, valued at $40,683.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,446,187 shares of company stock worth $45,567,572. 10.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CTI BioPharma

A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC lifted its stake in shares of CTI BioPharma by 29.0% during the 2nd quarter. Verition Fund Management LLC now owns 1,284,325 shares of the biopharmaceutical company’s stock worth $7,667,000 after purchasing an additional 289,045 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of CTI BioPharma during the 2nd quarter worth $49,000. Goldman Sachs Group Inc. lifted its stake in shares of CTI BioPharma by 85.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 647,596 shares of the biopharmaceutical company’s stock worth $3,866,000 after purchasing an additional 298,421 shares during the last quarter. Prudential Financial Inc. purchased a new stake in CTI BioPharma in the second quarter valued at about $72,000. Finally, Occudo Quantitative Strategies LP raised its stake in CTI BioPharma by 152.6% in the second quarter. Occudo Quantitative Strategies LP now owns 206,954 shares of the biopharmaceutical company’s stock valued at $1,236,000 after buying an additional 125,013 shares during the last quarter.

About CTI BioPharma

(Get Rating)

CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States. It offers VONJO (pacritinib), an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R for the treatment of adult patients with myelofibrosis.

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