Stocks of CTI BioPharma Corp. (NASDAQ:CTIC) traded higher last session on Wall Street, up 0.22% to $8.94.
As we calculate the median target price by taking the range between a high of $15.00 and a low of $9.00, we find $9.10. Given the previous closing price of $8.92, this indicates a potential upside of 2.02 percent. CTIC stock price is now 72.57% away from the 50-day moving average and 61.55% away from the 200-day moving average. The market capitalization of the company currently stands at $1.18B.
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Brokers who have rated the stock have averaged $10.30 as their price target over the next twelve months.
In other news, Fong James K, EVP & Chief Commercial Officer sold 100,000 shares of the company’s stock on Jan 24. The stock was sold for $600,000 at an average price of $6.00. Upon completion of the transaction, the EVP & Chief Commercial Officer now directly owns 3,565 shares in the company, valued at $31871.1. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 24, President and CEO Craig Adam R sold 85,317 shares of the business’s stock. A total of $511,923 was realized by selling the stock at an average price of $6.00. This leaves the insider owning 29,440 shares of the company worth $0.26 million. Insiders disposed of 1,466,636 shares of company stock worth roughly $13.11 million over the past 1 year. A total of 5.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CTIC stock. A new stake in CTI BioPharma Corp. shares was purchased by RUBRIC CAPITAL MANAGEMENT LP during the first quarter worth $80,132,000. MARSHALL WACE, LLP invested $53,283,000 in shares of CTIC during the first quarter. In the first quarter, ALLY BRIDGE GROUP (NY) LLC acquired a new stake in CTI BioPharma Corp. valued at approximately $4,917,000. NORGES BANK acquired a new stake in CTIC for approximately $4,364,000. PROFUND ADVISORS LLC purchased a new stake in CTIC valued at around $1,864,000 in the second quarter. In total, there are 195 active investors with 79.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $8.93 for CTI BioPharma Corp. (NASDAQ: CTIC). During the past 12 months, CTI BioPharma Corp. has had a low of $4.01 and a high of $8.96. The fifty day moving average price for CTIC is $5.27 and a two-hundred day moving average price translates $5.54 for the stock.
The latest earnings results from CTI BioPharma Corp. (NASDAQ: CTIC) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.1, beating analysts’ expectations of -$0.12 by 0.02. This compares to -$0.37 EPS in the same period last year. The net profit margin was -91.40% and return on equity was 425.90% for CTIC. The company reported revenue of $24.12 million for the quarter, compared to $2.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 950.81 percent. For the current quarter, analysts expect CTIC to generate $28.33M in revenue.
CTI BioPharma Corp.(CTIC) 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 offers VONJO (pacritinib), an an oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R for the treatment of adult patients with myelofibrosis. CTI BioPharma Corp. has license and collaboration agreement with Teva Pharmaceutical Industries Ltd. and S*BIO Pte Ltd. The company was formerly known as Cell Therapeutics, Inc. and changed its name to CTI BioPharma Corp. in May 2014. CTI BioPharma Corp. was incorporated in 1991 and is headquartered in Seattle, Washington.
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