Brookline Capital Management Comments on CTI BioPharma Corp.’s Q1 2023 Earnings (NASDAQ:CTIC)

CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) – Equities research analysts at Brookline Capital Management issued their Q1 2023 earnings per share (EPS) estimates for shares of CTI BioPharma in a research note issued to investors on Monday, March 6th. Brookline Capital Management analyst L. Cann anticipates that the biopharmaceutical company will post earnings of ($0.08) per share for the quarter. The consensus estimate for CTI BioPharma’s current full-year earnings is $0.07 per share.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last announced its earnings results on Monday, March 6th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). CTI BioPharma had a negative return on equity of 5,105.50% and a negative net margin of 172.37%. The business had revenue of $21.08 million during the quarter, compared to analysts’ expectations of $24.88 million. During the same quarter in the previous year, the firm earned ($0.38) EPS.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of CTI BioPharma in a research note on Monday. StockNews.com cut shares of CTI BioPharma from a “hold” rating to a “sell” rating in a report on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $9.00 price target on shares of CTI BioPharma in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CTI BioPharma has an average rating of “Moderate Buy” and a consensus price target of $10.67.

CTI BioPharma Stock Down 1.7 %

Shares of NASDAQ CTIC opened at $4.67 on Wednesday. CTI BioPharma has a twelve month low of $3.32 and a twelve month high of $7.80. The stock’s 50 day moving average price is $5.52 and its 200-day moving average price is $5.61. The company has a market capitalization of $592.58 million, a PE ratio of -5.49 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTIC. Raymond James Financial Services Advisors Inc. purchased a new position in CTI BioPharma in the first quarter worth $73,000. Bank of New York Mellon Corp boosted its position in CTI BioPharma by 564.8% during the first quarter. Bank of New York Mellon Corp now owns 175,057 shares of the biopharmaceutical company’s stock valued at $818,000 after buying an additional 148,725 shares during the period. Citigroup Inc. purchased a new stake in CTI BioPharma during the first quarter valued at about $385,000. Sei Investments Co. purchased a new stake in CTI BioPharma during the first quarter valued at about $658,000. Finally, Vanguard Group Inc. boosted its position in CTI BioPharma by 6.8% during the first quarter. Vanguard Group Inc. now owns 3,599,415 shares of the biopharmaceutical company’s stock valued at $16,810,000 after buying an additional 228,600 shares during the period. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CTI BioPharma

In other news, CEO Adam R. Craig sold 85,317 shares of the company’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $6.00, for a total value of $511,902.00. Following the transaction, the chief executive officer now owns 29,440 shares of the company’s stock, valued at $176,640. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Adam R. Craig sold 85,317 shares of the company’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $6.00, for a total value of $511,902.00. Following the transaction, the chief executive officer now owns 29,440 shares of the company’s stock, valued at $176,640. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Kirske sold 27,021 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $6.01, for a total transaction of $162,396.21. Following the completion of the transaction, the chief financial officer now owns 17,127 shares of the company’s stock, valued at $102,933.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,021 shares of company stock valued at $1,783,243. 10.20% of the stock is currently owned by company insiders.

About CTI BioPharma

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CTI BioPharma Corp. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. It focuses on evaluating pacritinib, its sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis.