StockNews.com Downgrades CTI BioPharma (NASDAQ:CTIC) to Sell

CTI BioPharma (NASDAQ:CTICGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

CTIC has been the topic of several other research reports. JMP Securities increased their price target on shares of CTI BioPharma from $6.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. SVB Leerink assumed coverage on shares of CTI BioPharma in a research note on Monday, October 17th. They set an “outperform” rating and a $13.00 price target for the company. Jefferies Financial Group began coverage on shares of CTI BioPharma in a research note on Thursday, September 1st. They set a “buy” rating and a $13.00 price target for the company. Finally, Needham & Company LLC lifted their target price on shares of CTI BioPharma from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

CTI BioPharma Stock Performance

Shares of CTIC stock opened at $5.90 on Friday. The firm’s 50-day moving average is $5.44 and its 200-day moving average is $5.71. The stock has a market cap of $748.67 million, a price-to-earnings ratio of -5.41 and a beta of 0.79. CTI BioPharma has a 52-week low of $1.43 and a 52-week high of $7.80.

Insider Transactions at CTI BioPharma

In other news, CEO Adam R. Craig sold 242,300 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $6.43, for a total value of $1,557,989.00. Following the transaction, the chief executive officer now owns 27,861 shares of the company’s stock, valued at approximately $179,146.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Adam R. Craig sold 242,300 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $6.43, for a total transaction of $1,557,989.00. Following the transaction, the chief executive officer now owns 27,861 shares of the company’s stock, valued at approximately $179,146.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael A. Metzger sold 91,500 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $5.58, for a total transaction of $510,570.00. The disclosure for this sale can be found here. Insiders have sold 496,533 shares of company stock valued at $3,052,476 in the last quarter. Insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its stake in CTI BioPharma by 39.5% during the 3rd quarter. State Street Corp now owns 13,742,554 shares of the biopharmaceutical company’s stock valued at $79,982,000 after purchasing an additional 3,893,026 shares in the last quarter. BlackRock Inc. grew its position in CTI BioPharma by 12.0% during the third quarter. BlackRock Inc. now owns 6,598,773 shares of the biopharmaceutical company’s stock valued at $38,405,000 after buying an additional 707,804 shares during the period. Stonepine Capital Management LLC grew its position in CTI BioPharma by 54.0% during the third quarter. Stonepine Capital Management LLC now owns 5,669,388 shares of the biopharmaceutical company’s stock valued at $32,996,000 after buying an additional 1,988,193 shares during the period. Vanguard Group Inc. grew its position in CTI BioPharma by 9.4% during the third quarter. Vanguard Group Inc. now owns 4,786,023 shares of the biopharmaceutical company’s stock valued at $27,854,000 after buying an additional 409,584 shares during the period. Finally, Bleichroeder LP grew its position in CTI BioPharma by 1,443.9% during the first quarter. Bleichroeder LP now owns 3,859,707 shares of the biopharmaceutical company’s stock valued at $18,025,000 after buying an additional 3,609,707 shares during the period.

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.

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