CTI BioPharma (CTIC) Trading Up 7.8%

CTI BioPharma Corp (NASDAQ:CTIC) shares were up 7.8% on Friday . The stock traded as high as $1.13 and last traded at $1.10. Approximately 901,718 shares traded hands during trading, an increase of 139% from the average daily volume of 378,032 shares. The stock had previously closed at $1.02.

Several research analysts recently weighed in on CTIC shares. Oppenheimer set a $4.00 price target on CTI BioPharma and gave the company a “buy” rating in a research report on Friday, December 28th. ValuEngine upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CTI BioPharma has an average rating of “Buy” and a consensus target price of $6.00.

The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.20.

Several institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP increased its position in shares of CTI BioPharma by 14.0% in the fourth quarter. Two Sigma Advisers LP now owns 115,483 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 14,200 shares in the last quarter. Stonepine Capital Management LLC increased its position in shares of CTI BioPharma by 8.0% in the fourth quarter. Stonepine Capital Management LLC now owns 5,726,579 shares of the biopharmaceutical company’s stock valued at $4,201,000 after buying an additional 424,516 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of CTI BioPharma in the fourth quarter valued at approximately $35,000. Rhumbline Advisers increased its position in shares of CTI BioPharma by 45.4% in the fourth quarter. Rhumbline Advisers now owns 66,079 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 20,630 shares in the last quarter. Finally, Fosun International Ltd purchased a new stake in shares of CTI BioPharma in the fourth quarter valued at approximately $253,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

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About CTI BioPharma (NASDAQ:CTIC)

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 and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and 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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