The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CTI BioPharma Corp. shares valued at $136,004 were sold by KIRSKE DAVID on Sep 16. At $6.02 per share, KIRSKE DAVID sold 22,592 shares. The insider’s holdings dropped to 16,913 shares worth approximately $90653.68000000001 following the completion of this transaction.
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Also, Craig Adam R sold 242,300 shares, netting a total of over 1,557,989 in proceeds. Following the sale of shares at $6.43 each, the insider now holds 27,861 shares.
Before that, Craig Adam R had added 5,000 shares to its account. In a trade valued at $27,500, the President and CEO bought CTI BioPharma Corp. shares for $5.50 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.15 million.
As published in their initiating research note from Jefferies on September 01, 2022, CTI BioPharma Corp. [CTIC] has been a Buy and the price target has been revised to $13. This represents a 58.77% premium over Wednesday’s closing price. Analysts at Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in early July. As of August 09, 2021, BTIG Research has initiated its “Buy” rating for CTIC. Earlier on May 06, 2021, Stifel initiated its rating. Their recommendation was “a Buy” for CTIC stock.
Analyzing CTIC’s Price Performance
On Wednesday, CTI BioPharma Corp. [NASDAQ: CTIC] plunged -4.46% to $5.36. The stock’s lowest price that day was $5.34, but it reached a high of $5.64 in the same session. During the last five days, there has been a drop of approximately -19.16%. Over the course of the year, CTI BioPharma Corp. shares have jumped approximately 116.13%. Shares of the company reached a 52-week high of $7.80 on 08/05/22 and a 52-week low of $1.82 on 02/28/22. A 50-day SMA is recorded $6.26, while a 200-day SMA reached $4.51. Nevertheless, trading volume fell to 3.25 million shares from 1.84 million shares the previous day.
Support And Resistance Levels for CTI BioPharma Corp. (CTIC)
According to the 24-hour chart, there is a support level at 5.25, which, if violated, would cause prices to drop to 5.15. In the upper region, resistance lies at 5.55. The next price resistance is at 5.75. RSI (Relative Strength Index) is 38.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.58, which suggests the price will decrease in the coming days. Percent R is at 98.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is CTI BioPharma Corp. subject to short interest?
Stocks of CTI BioPharma Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.69 million shares to 15.61 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 14.92 million shares. A jump of 4.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.99 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.99.
Which companies own the most shares of CTI BioPharma Corp. (CTIC)?
According to SSgA Funds Management, Inc. filings, the company currently owns 9,849,528 shares, which is about 8.61% of the total CTIC shares outstanding. The investor’s shares have appreciated by 9,578,193 from its previous 13-F filing of 271335.0 shares. With the completion of the sale transaction, BVF Partners LP’s stake is now worth $55,345,772. A total of 709,753 shares of CTI BioPharma Corp. were bought by The Vanguard Group, Inc. during the quarter, and 89,023 were bought by Bleichroeder LP. In its current portfolio, Stonepine Capital Management LLC holds 3,681,195 shares valued at $23.12 million.
In terms of CTI BioPharma Corp. share price expectations, FactSet research, analysts set an average price target of $10.74 in the next 12 months, up nearly 78.25% from the previous closing price of $5.61. Analysts anticipate CTI BioPharma Corp. stock to reach $15.00 by 2022, with the lowest price target being $7.90. In spite of this, 8 analysts ranked CTI BioPharma Corp. stock as a Buy at the end of 2022. On June 24, 2020, JMP Securities assigned a price target of “a Mkt outperform” to the stock and resumed coverage with a $3.