The Attractiveness of Investing In CTI BioPharma Corp. (CTIC) is Growing


In a filing, CTI BioPharma Corp. revealed its EVP & Chief Commercial Officer Fong James K unloaded Company’s shares for reported $0.6 million on Jan 24. In the deal valued at $6.00 per share,100,000 shares were sold. As a result of this transaction, Fong James K now holds 3,565 shares worth roughly $ 19179.7.

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Then, Craig Adam R sold 85,317 shares, generating $511,923 in total proceeds. Upon selling the shares at $6.00, the President and CEO now owns 29,440 shares.

Before that, Craig Adam R sold 84,683 shares. CTI BioPharma Corp. shares valued at $509,224 were divested by the President and CEO at a price of $6.01 per share. As a result of the transaction, Craig Adam R now holds 29,440 shares, worth roughly $0.16 million.

SVB Leerink initiated its CTI BioPharma Corp. [CTIC] rating to an Outperform in a research note published on Friday, October 17, 2022; the price target was $13. PT values the company’s stock at a premium of 58.62 to its Friday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in early September with a ‘”a Buy”‘ rating. Cowen began covering CTIC with “an Outperform” recommendation on July 07, 2022. BTIG Research started covering the stock on August 09, 2021. It rated CTIC as “a Buy”.

Price Performance Review of CTIC

On Friday, CTI BioPharma Corp. [NASDAQ:CTIC] saw its stock fall -0.92% to $5.38. On the same session, the stock had its day’s lowest price of $5.35, but rose to a high of $5.55. Over the last five days, the stock has lost -1.10%. CTI BioPharma Corp. shares have fallen nearly -10.48% since the year began. Nevertheless, the stocks have risen 59.64% over the past one year. While a 52-week high of $7.80 was reached on 01/03/23, a 52-week low of $3.32 was recorded on 02/14/23. SMA at 50 days reached $5.57, while 200 days put it at $5.73. A total of 3.68 million shares were traded, compared to the trading of 1.74 million shares in the previous session.

Levels Of Support And Resistance For CTIC Stock

The 24-hour chart illustrates a support level at 5.30, which if violated will result in even more drops to 5.23. On the upside, there is a resistance level at 5.50. A further resistance level may holdings at 5.63. The Relative Strength Index (RSI) on the 14-day chart is 45.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.62%. Stochastics %K at 58.44% indicates the stock is a holding.

How much short interest is there in CTI BioPharma Corp.?

A steep rise in short interest was recorded in CTI BioPharma Corp. stocks on Jan 30, 2023, dropping by -1.76 million shares to a total of 12.73 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 14.49 million shares. There was a decline of -13.83%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.81% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.33.

CTI BioPharma Corp. [CTIC] – Who Are The Largest Shareholders?

In filings from SSgA Funds Management, Inc., it is revealed that the company now owns 16,002,989 shares, or roughly 12.61% of the outstanding CTIC shares. In other words, the investor’s shares have risen by 2,260,435 from its previous 13-F filing of 13742554.0. Over the last quarter, The Vanguard Group, Inc. purchased 710,990 shares of CTI BioPharma Corp., while Stonepine Capital Management LLC bought -735,288 shares. At present, Millennium Management LLC is holding 4,762,769 shares valued at $26.34 million. Bleichroeder LP owned 3,893,730 shares of the company at the time of its most recent 13F filing, worth $21.53 million.

According to FactSet, CTI BioPharma Corp.’s share price will average $11.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 84.16 percent from its previous closing price of $5.43. Analysts expect CTI BioPharma Corp. stock to reach the higher price of $15.00, while the lowest price estimate is $8.70. However, 9 analysts have rated CTIC stock as a Buy in their predictions for 2023. The most recent change occurred on May 06, 2021 when Stifel began covering the stock and recommended ‘”a Buy”‘ rating along with a $5.50 price target.


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