CTI BioPharma (NASDAQ:CTIC) Stock Price Crosses Above Two Hundred Day Moving Average of $2.56

CTI BioPharma Corp. (NASDAQ:CTIC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.56 and traded as high as $3.55. CTI BioPharma shares last traded at $3.47, with a volume of 2,284,753 shares.

Several research analysts recently commented on CTIC shares. Zacks Investment Research upgraded shares of CTI BioPharma from a “sell” rating to a “hold” rating in a report on Monday, January 4th. Brookline Capital Management initiated coverage on shares of CTI BioPharma in a research note on Friday, October 23rd. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Lake Street Capital upped their price target on shares of CTI BioPharma from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.25.

The stock has a fifty day simple moving average of $3.36 and a two-hundred day simple moving average of $2.56. The stock has a market cap of $261.88 million, a PE ratio of -5.10 and a beta of 0.86.

CTI BioPharma (NASDAQ:CTIC) last posted its earnings results on Sunday, November 15th. The biopharmaceutical company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). On average, equities analysts predict that CTI BioPharma Corp. will post -0.69 EPS for the current fiscal year.

In other CTI BioPharma news, major shareholder Orbimed Advisors Llc sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $3.50, for a total value of $7,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Rhenman & Partners Asset Management AB purchased a new position in shares of CTI BioPharma during the 4th quarter valued at approximately $966,000. Jane Street Group LLC acquired a new stake in CTI BioPharma in the third quarter valued at $33,000. Two Sigma Securities LLC bought a new position in CTI BioPharma during the 3rd quarter valued at $50,000. Finally, Caxton Corp grew its holdings in CTI BioPharma by 596.4% during the 3rd quarter. Caxton Corp now owns 4,313,617 shares of the biopharmaceutical company’s stock worth $9,274,000 after acquiring an additional 3,694,157 shares in the last quarter. Institutional investors own 52.45% of the company’s stock.

About CTI BioPharma (NASDAQ:CTIC)

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. It develops 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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