CTI BioPharma (NASDAQ:CTIC) Downgraded by StockNews.com to “Sell”

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

Several other analysts have also recently weighed in on CTIC. Needham & Company LLC raised their price objective on shares of CTI BioPharma from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. SVB Leerink assumed coverage on shares of CTI BioPharma in a research report on Monday, October 17th. They issued an “outperform” rating and a $13.00 target price on the stock. JMP Securities lifted their target price 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. Finally, Jefferies Financial Group assumed coverage on shares of CTI BioPharma in a research report on Thursday, September 1st. They issued a “buy” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, CTI BioPharma has an average rating of “Moderate Buy” and a consensus target price of $11.00.

CTI BioPharma Stock Performance

CTI BioPharma stock opened at $5.90 on Friday. The firm’s fifty day moving average price is $5.44 and its 200-day moving average price is $5.71. The stock has a market cap of $748.67 million, a P/E ratio of -5.41 and a beta of 0.79. CTI BioPharma has a fifty-two week low of $1.43 and a fifty-two week high of $7.80.

Insiders Place Their Bets

In other CTI BioPharma news, CEO Adam R. Craig sold 242,300 shares of the firm’s 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 sale, 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 SEC, which is available through this hyperlink. In other news, Director Michael A. Metzger sold 91,500 shares of CTI BioPharma stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $5.58, for a total transaction of $510,570.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam R. Craig sold 242,300 shares of CTI BioPharma stock in a transaction dated 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 sale, the chief executive officer now directly owns 27,861 shares in the company, valued at approximately $179,146.23. The disclosure for this sale can be found here. Insiders have sold a total of 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 Investors Weigh In On CTI BioPharma

A number of large investors have recently modified their holdings of CTIC. Qube Research & Technologies Ltd boosted its stake in shares of CTI BioPharma by 331.4% during the 1st quarter. Qube Research & Technologies Ltd now owns 162,309 shares of the biopharmaceutical company’s stock valued at $758,000 after purchasing an additional 124,683 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in CTI BioPharma during the first quarter worth about $73,000. Bank of New York Mellon Corp boosted its stake 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 worth $818,000 after acquiring an additional 148,725 shares in the last quarter. Bleichroeder LP boosted its stake 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 worth $18,025,000 after acquiring an additional 3,609,707 shares in the last quarter. Finally, Citigroup Inc. bought a new stake in CTI BioPharma during the first quarter worth about $385,000.

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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