Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Spectrum Pharmaceuticals Inc. shares valued at $3,362 were sold by Vyas Dolatrai on Jun 21. At $0.79 per share, Vyas Dolatrai sold 4,283 shares. The insider’s holdings dropped to 82,063 shares worth approximately $68932.92 following the completion of this transaction.
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Also, Ashton William sold 4,283 shares, netting a total of over 3,362 in proceeds. Following the sale of shares at $0.79 each, the insider now holds 42,660 shares.
Before that, Fischer Seth H. Z. had sold 5,711 shares from its account. In a trade valued at $4,483, the Director traded Spectrum Pharmaceuticals Inc. shares for $0.79 each. Upon closing the transaction, the insider’s holdings decreased to 5,711 shares, worth approximately $24415.44.
As published in their initiating research note from JMP Securities on September 17, 2020, Spectrum Pharmaceuticals Inc. [SPPI] has been a Mkt outperform and the price target has been revised to $12. This represents a 93.0% premium over Wednesday’s closing price. Analysts at Guggenheim downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late December. As of December 26, 2019, Cantor Fitzgerald has decreased its “an Overweight” rating to a “Neutral” for SPPI.
Analyzing SPPI’s Price Performance
On Wednesday, Spectrum Pharmaceuticals Inc. [NASDAQ: SPPI] rose 1.02% to $0.84. The stock’s lowest price that day was $0.80, but it reached a high of $0.8669 in the same session. During the last five days, there has been a surge of approximately 8.19%. Over the course of the year, Spectrum Pharmaceuticals Inc. shares have dropped approximately -33.98%. Shares of the company reached a 52-week high of $1.6200 on 01/03/22 and a 52-week low of $0.6000 on 01/27/22. A 50-day SMA is recorded $0.8387, while a 200-day SMA reached $1.3111. Nevertheless, trading volume fell to 2.75 million shares from 2.97 million shares the previous day.
Support And Resistance Levels for Spectrum Pharmaceuticals Inc. (SPPI)
According to the 24-hour chart, there is a support level at 0.8034, which, if violated, would cause prices to drop to 0.7682. In the upper region, resistance lies at 0.8703. The next price resistance is at 0.9020. RSI (Relative Strength Index) is 53.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0009, which suggests the price will decrease in the coming days. Percent R is at 40.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Spectrum Pharmaceuticals Inc. (SPPI)?
According to Armistice Capital LLC filings, the company currently owns 17,100,000 shares, which is about 9.49% of the total SPPI shares outstanding. The investor’s shares have appreciated by 7,434,244 from its previous 13-F filing of 9665756.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $9,574,397. D. E. Shaw & Co. LP acquire a 809.50% interest valued at $5.86 million while The Vanguard Group, Inc. sold a -1,501,794 stake. A total of -1,404,723 shares of Spectrum Pharmaceuticals Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 203,897 were bought by Geode Capital Management LLC. In its current portfolio, BlackRock Advisors LLC holds 1,715,175 shares valued at $1.28 million.
In terms of Spectrum Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $5.60 in the next 12 months, up nearly 381.93% from the previous closing price of $0.83. Analysts anticipate Spectrum Pharmaceuticals Inc. stock to reach $10.00 by 2022, with the lowest price target being $3.00. In spite of this, 5 analysts ranked Spectrum Pharmaceuticals Inc. stock as a Buy at the end of 2022. On July 11, 2019, B. Riley FBR assigned a price target of “a Buy” to the stock and initiated coverage with a $18.