CTI BioPharma Corp. (NASDAQ:CTIC) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,049,111 shares, a growth of 74.0% from the August 15th total of 602,983 shares. Based on an average trading volume of 1,471,881 shares, the short-interest ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are sold short.

Shares of CTI BioPharma Corp. (NASDAQ:CTIC) opened at 0.39 on Friday. The stock’s 50 day moving average price is $0.37 and its 200-day moving average price is $0.43. CTI BioPharma Corp. has a 52 week low of $0.25 and a 52 week high of $1.75. The company’s market cap is $109.05 million.

CTI BioPharma Corp. (NASDAQ:CTIC) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. CTI BioPharma Corp. had a negative return on equity of 268.19% and a negative net margin of 133.07%. Analysts expect that CTI BioPharma Corp. will post ($0.19) EPS for the current year.

Several research firms have commented on CTIC. Piper Jaffray Cos. restated a “neutral” rating and issued a $0.75 target price on shares of CTI BioPharma Corp. in a research note on Monday, August 29th. Zacks Investment Research upgraded CTI BioPharma Corp. from a “hold” rating to a “buy” rating and set a $0.50 price objective on the stock in a research note on Thursday, September 8th.

A number of large investors have recently added to or reduced their stakes in the company. BVF Inc. IL boosted its stake in CTI BioPharma Corp. by 2.3% in the first quarter. BVF Inc. IL now owns 44,796,940 shares of the biopharmaceutical company’s stock valued at $23,805,000 after buying an additional 1,001,327 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of CTI BioPharma Corp. by 4.8% in the first quarter. BlackRock Fund Advisors now owns 6,043,618 shares of the biopharmaceutical company’s stock worth $3,212,000 after buying an additional 277,530 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of CTI BioPharma Corp. by 7.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,684,666 shares of the biopharmaceutical company’s stock worth $3,021,000 after buying an additional 394,075 shares during the period. State Street Corp boosted its stake in shares of CTI BioPharma Corp. by 9.5% in the first quarter. State Street Corp now owns 2,730,387 shares of the biopharmaceutical company’s stock worth $1,452,000 after buying an additional 237,602 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CTI BioPharma Corp. by 20.0% in the first quarter. Geode Capital Management LLC now owns 1,321,080 shares of the biopharmaceutical company’s stock worth $702,000 after buying an additional 220,343 shares during the period. 28.96% of the stock is owned by institutional investors and hedge funds.

About CTI BioPharma Corp.

CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL).

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