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.
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.
Read More: What are municipal bonds?
Receive News & Ratings for CTI BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTI BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.