CTI BioPharma Corp (NASDAQ:CTIC) shares saw strong trading volume on Friday . 5,420,700 shares changed hands during mid-day trading, an increase of 1,301% from the previous session’s volume of 386,918 shares.The stock last traded at $5.08 and had previously closed at $4.90.
Several analysts have recently commented on the company. BidaskClub raised CTI BioPharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. ValuEngine raised CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. JMP Securities assumed coverage on CTI BioPharma in a research report on Wednesday, March 7th. They issued an “outperform” rating and a $8.00 target price for the company. Cann reaffirmed a “buy” rating and issued a $5.00 target price on shares of CTI BioPharma in a research report on Wednesday, March 7th. Finally, Zacks Investment Research raised CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Wednesday, April 25th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. CTI BioPharma has an average rating of “Buy” and a consensus price target of $6.42.
The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.30 and a current ratio of 5.32.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEA Management Company LLC acquired a new stake in CTI BioPharma during the first quarter valued at $14,625,000. Franklin Resources Inc. acquired a new stake in CTI BioPharma during the first quarter valued at $13,542,000. Stonepine Capital Management LLC boosted its position in CTI BioPharma by 84.8% during the fourth quarter. Stonepine Capital Management LLC now owns 1,834,838 shares of the biopharmaceutical company’s stock valued at $4,917,000 after purchasing an additional 841,838 shares during the last quarter. Millennium Management LLC acquired a new stake in CTI BioPharma during the first quarter valued at $3,068,000. Finally, Renaissance Technologies LLC boosted its position in CTI BioPharma by 48.3% during the fourth quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock valued at $1,634,000 after purchasing an additional 198,700 shares during the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.
CTI BioPharma Company Profile
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 and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.
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