CTI BioPharma Corp. [CTIC] stock Initiated by SVB Leerink analyst, price target now $13

CTI BioPharma Corp. [NASDAQ: CTIC] plunged by -$0.01 during the normal trading session on Thursday and reaching a high of $5.175 during the day while it closed the day at $5.02. The company report on November 3, 2022 that CTI BioPharma Announces Oral Presentation at the 2022 American Society of Hematology (ASH) Annual Meeting and Exposition.


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CTI BioPharma Corp. (Nasdaq: CTIC) today announced an oral presentation and two poster presentations from the Company’s pacritinib program at the 64th American Society of Hematology (ASH®) Annual Meeting and Exposition, taking place in New Orleans, Louisiana and virtually December 10-13, 2022.

CTI BioPharma Corp. stock has also gained 4.37% of its value over the past 7 days. However, CTIC stock has declined by -32.44% in the 3 months of the year. Over the past six months meanwhile, it has lost -3.65% and gained 102.42% year-on date.

The market cap for CTIC stock reached $556.87 million, with 114.39 million shares outstanding and 114.16 million shares in the current float. Compared to the average trading volume of 4.35M shares, CTIC reached a trading volume of 4557945 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $11.08 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.

SVB Leerink have made an estimate for CTI BioPharma Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 17, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on September 01, 2022, representing the official price target for CTI BioPharma Corp. stock. Previously, the target price had yet another raise to $10, while Cowen analysts kept a Outperform rating on CTIC stock.

The Average True Range (ATR) for CTI BioPharma Corp. is set at 0.34, with the Price to Sales ratio for CTIC stock in the period of the last 12 months amounting to 38.14.

CTIC stock trade performance evaluation

CTI BioPharma Corp. [CTIC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.37. With this latest performance, CTIC shares dropped by -14.92% in over the last four-week period, additionally sinking by -3.65% over the last 6 months – not to mention a rise of 85.24% 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 47.79, with the RSI for the last a single of trading hit 51.61, and the three-weeks RSI is set at 46.41 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 5.58, while it was recorded at 5.02 for the last single week of trading, and 4.98 for the last 200 days.

CTI BioPharma Corp. [CTIC]: An insightful look at the core 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 3.60 and a Current Ratio set at 3.60.

CTI BioPharma Corp. [CTIC]: Insider Ownership positions

There are presently around $449 million, or 84.30% 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 0.21% of the total institutional ownership; BVF INC/IL, holding 8,929,690 shares of the stock with an approximate value of $44.83 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $40.4 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 89 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 37,266,347 shares. Additionally, 37 investors decreased positions by around 6,365,649 shares, while 12 investors held positions by with 45,775,590 shares. The mentioned changes placed institutional holdings at 89,407,586 shares, according to the latest SEC report filing. CTIC stock had 50 new institutional investments in for a total of 11,140,543 shares, while 15 institutional investors sold positions of 1,812,088 shares during the same period.

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