For CTI BioPharma Corp. [CTIC], Analyst sees a rise to $13. What next?

CTI BioPharma Corp. [NASDAQ: CTIC] loss -0.39% or -0.02 points to close at $5.08 with a heavy trading volume of 4568162 shares. The company report on September 21, 2022 that CTI BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).


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CTI BioPharma Corp. (NASDAQ: CTIC) today announced the grant of equity awards to two new employees as equity inducement awards outside of the Company’s Amended and Restated 2017 Equity Incentive Plan (but under the terms of the Amended and Restated 2017 Equity Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved on September 20, 2022 and September 21, 2022, respectively, in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received options to purchase an aggregate of 140,000 shares of CTI BioPharma common stock. The options will be issued upon each employee’s grant date (the “Grant Date”), and all stock options included within the equity inducement awards will have an exercise price equal to the closing price of CTI BioPharma common stock on each respective Grant Date. One-fourth of the options will vest on each anniversary of the employee’s Grant Date, subject to the employee’s continued employment with CTI BioPharma on such vesting dates. The options have a ten-year term.

It opened the trading session at $5.10, the shares rose to $5.26 and dropped to $4.92, the range by which the price of stock traded the whole day. The daily chart for CTIC points out that the company has recorded 10.20% gains over the past six months. However, it is still -255.24% lower than its most recent low trading price.

If we look at the average trading volume of 4.15M shares, CTIC reached to a volume of 4568162 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 $10.88 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 1.60. 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.

Jefferies have made an estimate for CTI BioPharma Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 01, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on July 07, 2022, representing the official price target for CTI BioPharma Corp. stock. Previously, the target price had yet another raise to $7, while BTIG Research analysts kept a Buy rating on CTIC stock.

The Average True Range (ATR) for CTI BioPharma Corp. is set at 0.40, with the Price to Sales ratio for CTIC stock in the period of the last 12 months amounting to 42.78.

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 -16.31. With this latest performance, CTIC shares dropped by -21.48% in over the last four-week period, additionally plugging by 10.20% over the last 6 months – not to mention a rise of 88.15% 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 37.07, with the RSI for the last a single of trading hit 31.57, and the three-weeks RSI is set at 40.53 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 6.06, while it was recorded at 5.43 for the last single week of trading, and 4.76 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 3.60 and a Current Ratio set at 3.60.

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

There are presently around $451 million, or 80.90% of CTIC stock, in the hands of institutional investors. The top three institutional holders of CTIC stocks are: STATE STREET CORP with ownership of 9,849,528, which is approximately 3530.025% of the company’s market cap and around 0.22% of the total institutional ownership; BVF INC/IL, holding 8,929,690 shares of the stock with an approximate value of $45.36 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $40.88 million in CTIC stock with ownership of nearly 12.699% of the company’s market capitalization.

Positions in CTI BioPharma Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 87 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 36,279,454 shares. Additionally, 37 investors decreased positions by around 6,808,933 shares, while 12 investors held positions by with 45,686,857 shares. The mentioned changes placed institutional holdings at 88,775,244 shares, according to the latest SEC report filing. CTIC stock had 49 new institutional investments in for a total of 10,829,097 shares, while 16 institutional investors sold positions of 1,828,831 shares during the same period.

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