WINTON GROUP Ltd Acquires 69,452 Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)

WINTON GROUP Ltd raised its holdings in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPIGet Rating) by 256.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,571 shares of the biotechnology company’s stock after purchasing an additional 69,452 shares during the quarter. WINTON GROUP Ltd owned 0.05% of Spectrum Pharmaceuticals worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPPI. Renaissance Technologies LLC raised its holdings in shares of Spectrum Pharmaceuticals by 69.1% in the first quarter. Renaissance Technologies LLC now owns 1,404,039 shares of the biotechnology company’s stock valued at $1,811,000 after acquiring an additional 573,790 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Spectrum Pharmaceuticals by 40.4% in the first quarter. Panagora Asset Management Inc. now owns 849,041 shares of the biotechnology company’s stock valued at $1,095,000 after acquiring an additional 244,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Spectrum Pharmaceuticals by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 432,628 shares of the biotechnology company’s stock valued at $559,000 after acquiring an additional 22,726 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Spectrum Pharmaceuticals by 1,355.2% in the first quarter. Acadian Asset Management LLC now owns 421,867 shares of the biotechnology company’s stock valued at $543,000 after acquiring an additional 392,877 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Spectrum Pharmaceuticals in the first quarter valued at about $386,000. 31.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SPPI. StockNews.com began coverage on Spectrum Pharmaceuticals in a report on Monday. They issued a “sell” rating for the company. HC Wainwright reduced their target price on shares of Spectrum Pharmaceuticals from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, September 20th. B. Riley downgraded shares of Spectrum Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $1.50 to $1.00 in a report on Wednesday, November 16th. Finally, JMP Securities reiterated a “buy” rating and issued a $4.00 target price on shares of Spectrum Pharmaceuticals in a report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Spectrum Pharmaceuticals has an average rating of “Hold” and a consensus target price of $4.67.

Spectrum Pharmaceuticals Stock Performance

Shares of SPPI stock opened at $0.41 on Tuesday. Spectrum Pharmaceuticals, Inc. has a fifty-two week low of $0.36 and a fifty-two week high of $1.81. The firm has a market capitalization of $77.75 million, a price-to-earnings ratio of -0.65 and a beta of 2.04. The stock’s 50-day simple moving average is $0.51 and its 200-day simple moving average is $0.79.

Spectrum Pharmaceuticals Company Profile

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Spectrum Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes oncology and hematology drug products. The company's products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma.

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Institutional Ownership by Quarter for Spectrum Pharmaceuticals (NASDAQ:SPPI)

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