State Board of Administration of Florida Retirement System Invests $70,000 in CTI BioPharma Corp. (NASDAQ:CTIC)

State Board of Administration of Florida Retirement System acquired a new position in shares of CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,580 shares of the biopharmaceutical company’s stock, valued at approximately $70,000.

A number of other institutional investors have also added to or reduced their stakes in CTIC. Raymond James Financial Services Advisors Inc. acquired a new position in CTI BioPharma in the 1st quarter valued at approximately $73,000. Bank of New York Mellon Corp lifted its stake in shares of CTI BioPharma by 564.8% in 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 in the last quarter. Citigroup Inc. bought a new position in shares of CTI BioPharma in the first quarter valued at $385,000. Sei Investments Co. bought a new position in shares of CTI BioPharma in the first quarter valued at $658,000. Finally, Vanguard Group Inc. lifted its stake in shares of CTI BioPharma by 6.8% in 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 in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

CTI BioPharma Stock Up 0.7 %

Shares of NASDAQ CTIC opened at $8.99 on Wednesday. CTI BioPharma Corp. has a 52 week low of $4.01 and a 52 week high of $9.05. The firm’s fifty day moving average is $5.35 and its 200 day moving average is $5.49. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -15.52 and a beta of 0.86.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last issued its earnings results on Monday, March 6th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The company had revenue of $21.08 million for the quarter, compared to the consensus estimate of $24.88 million. During the same quarter last year, the firm posted ($0.38) earnings per share. Equities research analysts anticipate that CTI BioPharma Corp. will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com assumed coverage on shares of CTI BioPharma in a report on Thursday, May 18th. They issued a “hold” rating for the company. JMP Securities downgraded shares of CTI BioPharma from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Lake Street Capital downgraded shares of CTI BioPharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Stifel Nicolaus downgraded shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, TD Cowen reduced their target price on shares of CTI BioPharma from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, April 17th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.29.

CTI BioPharma Profile

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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.