CTI BioPharma Corp. [CTIC] Is Currently 16.90 above its 200 Period Moving Avg: What Does This Mean?

CTI BioPharma Corp. [NASDAQ: CTIC] price surged by 16.90 percent to reach at $0.84. The company report on November 8, 2022 that CTI BioPharma to Present at Upcoming November Conferences.


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CTI BioPharma Corp. (NASDAQ: CTIC) today announced that management will provide a corporate overview at two upcoming investor conferences in New York and London.

A sum of 7753208 shares traded at recent session while its average daily volume was at 4.37M shares. CTI BioPharma Corp. shares reached a high of $5.905 and dropped to a low of $5.27 until finishing in the latest session at $5.81.

The one-year CTIC stock forecast points to a potential upside of 47.56. 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 $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 0.40, with the Price to Sales ratio for CTIC stock in the period of the last 12 months amounting to 42.81.

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 11.52. With this latest performance, CTIC shares gained by 13.92% in over the last four-week period, additionally plugging by 47.09% over the last 6 months – not to mention a rise of 106.03% 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 60.24, with the RSI for the last a single of trading hit 66.68, and the three-weeks RSI is set at 55.93 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 5.52, while it was recorded at 5.23 for the last single week of trading, and 5.02 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 3.60 and a Current Ratio set at 3.60.

CTI BioPharma Corp. [CTIC] Insider Position Details

There are presently around $525 million, or 83.90% 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 0.21% of the total institutional ownership; BVF INC/IL, holding 8,929,690 shares of the stock with an approximate value of $51.88 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $46.75 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 88 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 37,512,292 shares. Additionally, 39 investors decreased positions by around 6,544,914 shares, while 12 investors held positions by with 46,344,290 shares. The mentioned changes placed institutional holdings at 90,401,496 shares, according to the latest SEC report filing. CTIC stock had 46 new institutional investments in for a total of 11,223,708 shares, while 15 institutional investors sold positions of 1,909,883 shares during the same period.

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