CTI BioPharma (NASDAQ:CTIC) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of CTI BioPharma (NASDAQ:CTIC) from a hold rating to a sell rating in a research note published on Tuesday morning, ValuEngine reports.

Separately, Needham & Company LLC reaffirmed a buy rating and issued a $3.50 price objective on shares of CTI BioPharma in a report on Monday, February 3rd.

Shares of CTIC stock traded down $0.06 during trading hours on Tuesday, hitting $1.26. The company’s stock had a trading volume of 3,877 shares, compared to its average volume of 279,276. The company has a 50 day moving average of $1.39 and a 200 day moving average of $0.98. The stock has a market cap of $76.24 million, a PE ratio of -2.31 and a beta of 1.95. CTI BioPharma has a 12-month low of $0.63 and a 12-month high of $1.93.

Several institutional investors and hedge funds have recently bought and sold shares of CTIC. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CTI BioPharma in the 4th quarter valued at $25,000. Squarepoint Ops LLC lifted its stake in shares of 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 purchasing an additional 52,803 shares during the period. Jane Street Group LLC acquired a new position in shares of CTI BioPharma in the 2nd quarter valued at $119,000. Finally, Renaissance Technologies LLC lifted its stake in shares of CTI BioPharma by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,967,914 shares of the biopharmaceutical company’s stock valued at $3,109,000 after purchasing an additional 90,025 shares during the period. Hedge funds and other institutional investors own 43.43% of the company’s stock.

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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