CTI BioPharma (NASDAQ:CTIC) Hits New 1-Year High at $7.15

CTI BioPharma Corp. (NASDAQ:CTICGet Rating) hit a new 52-week high on Thursday . The company traded as high as $7.15 and last traded at $6.99, with a volume of 60042 shares traded. The stock had previously closed at $6.95.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of CTI BioPharma in a report on Monday, June 6th. Cowen initiated coverage on CTI BioPharma in a research report on Thursday, July 7th. They set an “outperform” rating and a $10.00 price target on the stock. JMP Securities reiterated a “buy” rating and set a $6.00 price target on shares of CTI BioPharma in a research report on Monday, June 6th. Finally, Cowen started coverage on CTI BioPharma in a research report on Thursday, July 7th. They issued an “outperform” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.29.

CTI BioPharma Price Performance

The company has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $4.65.

CTI BioPharma (NASDAQ:CTICGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $2.15 million. As a group, analysts anticipate that CTI BioPharma Corp. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at CTI BioPharma

In other CTI BioPharma news, Director Michael A. Metzger sold 20,121 shares of the business’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $6.51, for a total value of $130,987.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CTI BioPharma news, Director Michael A. Metzger sold 20,121 shares of CTI BioPharma stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $6.51, for a total value of $130,987.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adam R. Craig sold 27,000 shares of CTI BioPharma stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $6.00, for a total value of $162,000.00. Following the completion of the sale, the chief executive officer now directly owns 16,678 shares in the company, valued at approximately $100,068. The disclosure for this sale can be found here. Insiders sold 262,621 shares of company stock worth $1,600,908 over the last 90 days. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CTI BioPharma

Institutional investors have recently added to or reduced their stakes in the business. Bleichroeder LP purchased a new stake in CTI BioPharma in the 4th quarter valued at approximately $620,000. Belvedere Trading LLC acquired a new stake in shares of CTI BioPharma during the 1st quarter valued at approximately $270,000. Stonepine Capital Management LLC lifted its position in shares of CTI BioPharma by 10.5% during the 4th quarter. Stonepine Capital Management LLC now owns 8,800,358 shares of the biopharmaceutical company’s stock valued at $21,825,000 after acquiring an additional 836,029 shares during the period. Bartlett & Co. LLC acquired a new stake in shares of CTI BioPharma during the 4th quarter valued at approximately $91,000. Finally, Kennedy Capital Management Inc. lifted its position in shares of CTI BioPharma by 44.4% during the 4th quarter. Kennedy Capital Management Inc. now owns 728,395 shares of the biopharmaceutical company’s stock valued at $1,806,000 after acquiring an additional 224,013 shares during the period. Hedge funds and other institutional investors own 47.75% of the company’s stock.

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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