Stonepine Capital Management LLC lowered its stake in CTI BioPharma Corp. (NASDAQ:CTIC) by 56.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 993,000 shares of the biopharmaceutical company’s stock after selling 1,291,381 shares during the period. CTI BioPharma comprises 1.9% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Stonepine Capital Management LLC owned approximately 2.31% of CTI BioPharma worth $3,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CTIC. JPMorgan Chase & Co. acquired a new stake in shares of CTI BioPharma during the 3rd quarter worth about $272,000. OxFORD Asset Management LLP acquired a new stake in shares of CTI BioPharma during the 3rd quarter worth about $164,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of CTI BioPharma during the 2nd quarter worth about $104,000. 42.83% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on the company. ValuEngine lowered CTI BioPharma from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 11th. Jefferies Group assumed coverage on CTI BioPharma in a research report on Tuesday, September 12th. They set a “buy” rating and a $7.50 target price on the stock.
Shares of CTI BioPharma Corp. (NASDAQ:CTIC) opened at $2.79 on Monday. The company has a current ratio of 2.19, a quick ratio of 2.17 and a debt-to-equity ratio of 0.26. CTI BioPharma Corp. has a 12-month low of $2.63 and a 12-month high of $6.48.
CTI BioPharma (NASDAQ:CTIC) last released its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04. The company had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.30 million. CTI BioPharma had a negative return on equity of 209.67% and a negative net margin of 96.91%. research analysts predict that CTI BioPharma Corp. will post -1.2 earnings per share for the current year.
CTI BioPharma Profile
CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL).
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