Market Analysts see CTI BioPharma Corp. [CTIC] gaining to $7. Time to buy?

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CTI BioPharma Corp. [NASDAQ: CTIC] loss -10.13% or -0.4 points to close at $3.55 with a heavy trading volume of 5616766 shares. The company report on May 10, 2022 that CTI BioPharma Announces Presentation at the 2022 American Society of Clinical Oncology Annual Meeting.

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CTI BioPharma Corp. (Nasdaq: CTIC) today announced one poster presentation from the Company’s pacritinib program at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting, being held in Chicago and virtually, June 3-7, 2021.

It opened the trading session at $3.95, the shares rose to $3.98 and dropped to $3.32, the range by which the price of stock traded the whole day. The daily chart for CTIC points out that the company has recorded 30.04% gains over the past six months. However, it is still -148.25% lower than its most recent low trading price.

If we look at the average trading volume of 6.06M shares, CTIC reached to a volume of 5616766 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CTI BioPharma Corp. [CTIC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTIC shares is $9.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTIC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for CTI BioPharma Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 09, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on May 06, 2021, representing the official price target for CTI BioPharma Corp. stock. Previously, the target price had yet another raise to $3, while JMP Securities analysts kept a Mkt Outperform rating on CTIC stock.

The Average True Range (ATR) for CTI BioPharma Corp. is set at 0.46 The Price to Book ratio for the last quarter was 88.75, with the Price to Cash per share for the same quarter was set at 0.58.

Trading performance analysis for CTIC stock

CTI BioPharma Corp. [CTIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -35.92. With this latest performance, CTIC shares dropped by -22.99% in over the last four-week period, additionally plugging by 30.04% over the last 6 months – not to mention a rise of 60.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTIC stock in for the last two-week period is set at 33.81, with the RSI for the last a single of trading hit 25.46, and the three-weeks RSI is set at 39.61 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 4.62, while it was recorded at 4.30 for the last single week of trading, and 3.03 for the last 200 days.

CTI BioPharma Corp. [CTIC]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -447.11, with Return on Assets sitting at -149.85.

CTI BioPharma Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

An analysis of insider ownership at CTI BioPharma Corp. [CTIC]

There are presently around $205 million, or 50.30% of CTIC stock, in the hands of institutional investors. The top three institutional holders of CTIC stocks are: BVF INC/IL with ownership of 8,929,690, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; STONEPINE CAPITAL MANAGEMENT, LLC, holding 8,800,358 shares of the stock with an approximate value of $34.76 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $28.2 million in CTIC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in CTI BioPharma Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 35 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 11,484,633 shares. Additionally, 25 investors decreased positions by around 14,139,079 shares, while 17 investors held positions by with 26,198,785 shares. The mentioned changes placed institutional holdings at 51,822,497 shares, according to the latest SEC report filing. CTIC stock had 16 new institutional investments in for a total of 3,408,347 shares, while 9 institutional investors sold positions of 9,920,237 shares during the same period.