Insider Selling: CTI BioPharma Corp. (NASDAQ:CTIC) CFO Sells $136,003.84 in Stock

CTI BioPharma Corp. (NASDAQ:CTICGet Rating) CFO David Kirske sold 22,592 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $6.02, for a total transaction of $136,003.84. Following the sale, the chief financial officer now directly owns 16,913 shares of the company’s stock, valued at approximately $101,816.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CTI BioPharma Stock Up 8.0 %

Shares of NASDAQ CTIC opened at $5.79 on Friday. The company’s 50-day simple moving average is $6.25 and its 200-day simple moving average is $5.53. CTI BioPharma Corp. has a 52-week low of $1.43 and a 52-week high of $7.80. The firm has a market cap of $662.29 million, a price-to-earnings ratio of -4.75 and a beta of 0.87.

CTI BioPharma (NASDAQ:CTICGet Rating) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). During the same quarter last year, the business posted ($0.21) EPS. Equities research analysts anticipate that CTI BioPharma Corp. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On CTI BioPharma

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of CTI BioPharma by 354.5% in the 1st quarter. Bank of America Corp DE now owns 5,900 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 4,602 shares during the period. Dorsey Wright & Associates acquired a new position in CTI BioPharma during the 2nd quarter worth approximately $48,000. Legal & General Group Plc acquired a new position in CTI BioPharma during the 2nd quarter worth approximately $49,000. ProShare Advisors LLC acquired a new position in CTI BioPharma during the 2nd quarter worth approximately $62,000. Finally, Prudential Financial Inc. acquired a new position in shares of CTI BioPharma in the 2nd quarter valued at $72,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cowen assumed coverage on shares of CTI BioPharma in a report on Thursday, July 7th. They issued an “outperform” rating and a $10.00 price target for the company. Needham & Company LLC raised their target price on shares of CTI BioPharma from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Cowen started coverage on shares of CTI BioPharma in a report on Thursday, July 7th. They set an “outperform” rating and a $10.00 target price for the company. Jefferies Financial Group started coverage on shares of CTI BioPharma in a research report on Thursday, September 1st. They set a “buy” rating and a $13.00 price target on the stock. Finally, JMP Securities raised their price target on shares of CTI BioPharma from $6.00 to $9.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.71.

CTI BioPharma Company Profile

(Get Rating)

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 offers VONJO (pacritinib), an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R for the treatment of adult patients with myelofibrosis.

Further Reading

Insider Buying and Selling by Quarter for CTI BioPharma (NASDAQ:CTIC)

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