CTI BioPharma Corp. [CTIC] Revenue clocked in at $32.90 million, down -19.63% YTD: What’s Next?

CTI BioPharma Corp. [NASDAQ: CTIC] slipped around -0.55 points on Monday, while shares priced at $4.83 at the close of the session, down -10.22%. The company report on March 6, 2023 that CTI BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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CTI BioPharma Corp. (Nasdaq: CTIC), a commercial biopharmaceutical company focused on the development and commercialization of novel targeted therapies for blood-related cancers, today announced that an authorized subcommittee of the Compensation Committee of its Board of Directors granted equity awards to five 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 March 6, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received options to purchase an aggregate of 148,000 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.

CTI BioPharma Corp. stock is now -19.63% down from its year-to-date (YTD) trading value. CTIC Stock saw the intraday high of $5.19 and lowest of $4.62 per share. The company’s 52-week high price is 7.80, which means current price is +4.55% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 2.59M shares, CTIC reached a trading volume of 9718216 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $11.41 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.

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 0.23, with the Price to Sales ratio for CTIC stock in the period of the last 12 months amounting to 18.80.

How has CTIC stock performed recently?

CTI BioPharma Corp. [CTIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.70. With this latest performance, CTIC shares dropped by -16.00% in over the last four-week period, additionally sinking by -25.46% over the last 6 months – not to mention a rise of 22.28% 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 28.97, with the RSI for the last a single of trading hit 20.57, and the three-weeks RSI is set at 35.05 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 5.55, while it was recorded at 5.31 for the last single week of trading, and 5.74 for the last 200 days.

CTI BioPharma Corp. [CTIC]: Deeper insight into the 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 3.20 and a Current Ratio set at 3.30.

Insider trade positions for CTI BioPharma Corp. [CTIC]

There are presently around $508 million, or 79.30% of CTIC stock, in the hands of institutional investors. The top three institutional holders of CTIC stocks are: STATE STREET CORP with ownership of 16,002,989, which is approximately 16.448% of the company’s market cap and around 0.20% of the total institutional ownership; BVF INC/IL, holding 8,813,021 shares of the stock with an approximate value of $42.57 million in CTIC stocks shares; and BLACKROCK INC., currently with $34.1 million in CTIC stock with ownership of nearly 6.994% of the company’s market capitalization.

Positions in CTI BioPharma Corp. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 86 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 19,436,611 shares. Additionally, 64 investors decreased positions by around 11,918,369 shares, while 21 investors held positions by with 73,899,539 shares. The mentioned changes placed institutional holdings at 105,254,519 shares, according to the latest SEC report filing. CTIC stock had 38 new institutional investments in for a total of 9,030,010 shares, while 27 institutional investors sold positions of 5,969,796 shares during the same period.


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