Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lowered its stake in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) by 74.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,900 shares of the biotechnology company’s stock after selling 64,478 shares during the period. Tudor Investment Corp ET AL’s holdings in Spectrum Pharmaceuticals were worth $142,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its position in Spectrum Pharmaceuticals by 9.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 58,831 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 5,111 shares during the last quarter. State Street Corp boosted its position in Spectrum Pharmaceuticals by 45.3% in the first quarter. State Street Corp now owns 2,353,958 shares of the biotechnology company’s stock valued at $15,305,000 after buying an additional 733,651 shares during the last quarter. Bank of America Corp DE boosted its position in Spectrum Pharmaceuticals by 52.3% in the first quarter. Bank of America Corp DE now owns 231,750 shares of the biotechnology company’s stock valued at $1,507,000 after buying an additional 79,619 shares during the last quarter. Renaissance Technologies LLC boosted its position in Spectrum Pharmaceuticals by 9.7% in the first quarter. Renaissance Technologies LLC now owns 5,679,800 shares of the biotechnology company’s stock valued at $36,919,000 after buying an additional 502,488 shares during the last quarter. Finally, UBS Group AG boosted its position in Spectrum Pharmaceuticals by 36.6% in the first quarter. UBS Group AG now owns 54,218 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 14,519 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) opened at 9.40 on Friday. The company has a 50-day moving average price of $8.10 and a 200 day moving average price of $6.76. Spectrum Pharmaceuticals, Inc. has a 1-year low of $3.21 and a 1-year high of $9.70. The firm’s market capitalization is $738.61 million.

Spectrum Pharmaceuticals (NASDAQ:SPPI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. The company had revenue of $34.30 million during the quarter, compared to analysts’ expectations of $30.50 million. Spectrum Pharmaceuticals had a negative return on equity of 30.95% and a negative net margin of 59.33%. Spectrum Pharmaceuticals’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) EPS. On average, equities research analysts predict that Spectrum Pharmaceuticals, Inc. will post ($1.03) EPS for the current year.

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Several research analysts have weighed in on the company. Zacks Investment Research cut Spectrum Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded Spectrum Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright set a $10.00 price target on Spectrum Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, May 6th. BidaskClub cut Spectrum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC raised their price target on Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Spectrum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $10.80.

Spectrum Pharmaceuticals Company Profile

Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).