Short Interest in CTI BioPharma Corp (NASDAQ:CTIC) Rises By 26.4%

CTI BioPharma Corp (NASDAQ:CTIC) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 290,500 shares, an increase of 26.4% from the December 31st total of 229,800 shares. Based on an average trading volume of 410,900 shares, the short-interest ratio is presently 0.7 days. Currently, 0.5% of the company’s shares are short sold.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC raised its holdings in CTI BioPharma by 145.0% in the 3rd quarter. Squarepoint Ops LLC now owns 89,228 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 52,803 shares during the period. Jane Street Group LLC purchased a new stake in CTI BioPharma in the 2nd quarter valued at about $119,000. Finally, Renaissance Technologies LLC raised its holdings in CTI BioPharma by 24.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,596,587 shares of the biopharmaceutical company’s stock valued at $1,372,000 after buying an additional 314,235 shares during the period. Hedge funds and other institutional investors own 43.43% of the company’s stock.

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of CTI BioPharma in a report on Tuesday, December 10th. ValuEngine upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th.

Shares of NASDAQ CTIC traded down $0.06 during trading on Monday, hitting $1.21. 4,872 shares of the company were exchanged, compared to its average volume of 239,352. CTI BioPharma has a 12-month low of $0.63 and a 12-month high of $1.93. The company has a fifty day moving average price of $1.39 and a 200-day moving average price of $0.93. The firm has a market capitalization of $73.63 million, a PE ratio of -2.24 and a beta of 1.90.

CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. CTI BioPharma had a negative return on equity of 78.10% and a negative net margin of 177.54%. The business had revenue of $2.29 million for the quarter.

About CTI BioPharma

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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