CTI BioPharma Corp. [NASDAQ: CTIC] price plunged by -4.98 percent to reach at -$0.37. The company report on August 8, 2022 that CTI BioPharma Reports Second Quarter 2022 Financial Results.
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– VONJO® (pacritinib) net product revenue of $12.3 million in the second quarter –.
– Management to host conference call today at 4:30 p.m. ET –.
A sum of 6106718 shares traded at recent session while its average daily volume was at 4.58M shares. CTI BioPharma Corp. shares reached a high of $7.5599 and dropped to a low of $6.88 until finishing in the latest session at $7.06.
The one-year CTIC stock forecast points to a potential upside of 27.89. The average equity rating for CTIC stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $9.79 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.
Cowen have made an estimate for CTI BioPharma Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 07, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on August 09, 2021, representing the official price target for CTI BioPharma Corp. stock. Previously, the target price had yet another raise to $5.50, while Stifel analysts kept a Buy rating on CTIC stock.
The Average True Range (ATR) for CTI BioPharma Corp. is set at 0.49, with the Price to Sales ratio for CTIC stock in the period of the last 12 months amounting to 328.20.
CTIC Stock Performance Analysis:
CTI BioPharma Corp. [CTIC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.58. With this latest performance, CTIC shares gained by 0.71% in over the last four-week period, additionally plugging by 247.78% over the last 6 months – not to mention a rise of 152.14% 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 58.90, with the RSI for the last a single of trading hit 59.44, and the three-weeks RSI is set at 58.25 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 6.16, while it was recorded at 7.13 for the last single week of trading, and 3.96 for the last 200 days.
Insight into CTI BioPharma Corp. Fundamentals:
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.
CTI BioPharma Corp. [CTIC] Insider Position Details
There are presently around $415 million, or 63.10% 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 0.21% of the total institutional ownership; NEA MANAGEMENT COMPANY, LLC, holding 7,140,450 shares of the stock with an approximate value of $50.41 million in CTIC stocks shares; and LION POINT CAPITAL, LP, currently with $38.76 million in CTIC stock with ownership of nearly 348.641% of the company’s market capitalization.
Positions in CTI BioPharma Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 55 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 21,230,940 shares. Additionally, 31 investors decreased positions by around 11,150,508 shares, while 16 investors held positions by with 26,425,407 shares. The mentioned changes placed institutional holdings at 58,806,855 shares, according to the latest SEC report filing. CTIC stock had 32 new institutional investments in for a total of 6,954,657 shares, while 9 institutional investors sold positions of 2,325,402 shares during the same period.