Insider Selling: CTI BioPharma Corp. (NASDAQ:CTIC) Major Shareholder Sells 2,000,000 Shares of Stock


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CTI BioPharma Corp. (NASDAQ:CTIC) major shareholder Orbimed Advisors Llc sold 2,000,000 shares of CTI BioPharma stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $3.50, for a total transaction of $7,000,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of CTIC opened at $3.30 on Thursday. The firm has a market capitalization of $249.05 million, a price-to-earnings ratio of -4.85 and a beta of 0.86. The business’s fifty day moving average price is $3.43 and its two-hundred day moving average price is $2.35. CTI BioPharma Corp. has a 52 week low of $0.62 and a 52 week high of $4.03.

CTI BioPharma (NASDAQ:CTIC) last announced its quarterly earnings data on Sunday, November 15th. The biopharmaceutical company reported ($0.15) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.15). On average, equities analysts forecast that CTI BioPharma Corp. will post -0.69 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on CTIC shares. Needham & Company LLC lifted their price target on shares of CTI BioPharma from $3.50 to $6.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Lake Street Capital boosted their target price on shares of CTI BioPharma from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, January 4th. Brookline Capital Management began coverage on shares of CTI BioPharma in a research note on Friday, October 23rd. They set a “buy” rating and a $7.00 price target on the stock. ValuEngine lowered shares of CTI BioPharma from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. Finally, Zacks Investment Research raised CTI BioPharma from a “sell” rating to a “hold” rating in a report on Monday, January 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $7.25.

Several hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its stake in shares of CTI BioPharma by 46.4% in the 2nd quarter. UBS Group AG now owns 25,862 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 8,195 shares during the period. Jane Street Group LLC acquired a new position in shares of CTI BioPharma in the 3rd quarter valued at $33,000. Two Sigma Securities LLC acquired a new position in shares of CTI BioPharma in the 3rd quarter valued at $50,000. Finally, Caxton Corp lifted its stake in shares of CTI BioPharma by 596.4% in the 3rd quarter. Caxton Corp now owns 4,313,617 shares of the biopharmaceutical company’s stock valued at $9,274,000 after purchasing an additional 3,694,157 shares during the period. 52.45% of the stock is currently owned by institutional investors.

CTI BioPharma Company Profile

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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