Shares of CTI BioPharma Corp (NASDAQ:CTIC) were up 10.9% on Monday . The company traded as high as $3.12 and last traded at $3.06. Approximately 609,792 shares traded hands during trading, an increase of 228% from the average daily volume of 186,018 shares. The stock had previously closed at $2.76.
A number of analysts have recently weighed in on CTIC shares. Jefferies Group started coverage on shares of CTI BioPharma in a research report on Tuesday, September 12th. They set a “buy” rating and a $7.50 price target for the company. ValuEngine downgraded shares of CTI BioPharma from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research downgraded shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd.
The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $131.48, a PE ratio of -2.97 and a beta of 0.53.
A number of institutional investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC acquired a new position in CTI BioPharma in the second quarter worth $7,561,000. JPMorgan Chase & Co. acquired a new position in CTI BioPharma in the third quarter worth $272,000. Finally, OxFORD Asset Management LLP acquired a new position in CTI BioPharma in the third quarter worth $164,000. 42.81% of the stock is owned by hedge funds and other institutional investors.
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About CTI BioPharma
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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