CTI BioPharma (NASDAQ:CTIC) Stock Crosses Above 200-Day Moving Average of $0.92
Shares of CTI BioPharma Corp (NASDAQ:CTIC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.92 and traded as high as $1.38. CTI BioPharma shares last traded at $1.34, with a volume of 352,943 shares changing hands.
Several equities analysts recently issued reports on the company. ValuEngine upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of CTI BioPharma in a research report on Tuesday, December 10th.
The company has a 50-day simple moving average of $1.37 and a 200-day simple moving average of $0.92. The company has a market cap of $78.85 million, a price-to-earnings ratio of -2.48 and a beta of 1.90.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its position in CTI BioPharma by 145.0% during the 3rd quarter. Squarepoint Ops LLC now owns 89,228 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 52,803 shares during the period. Jane Street Group LLC acquired a new position in CTI BioPharma during the 2nd quarter worth approximately $119,000. Finally, Renaissance Technologies LLC increased its position in CTI BioPharma by 24.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,596,587 shares of the biopharmaceutical company’s stock worth $1,372,000 after purchasing an additional 314,235 shares during the period. Institutional investors own 43.43% of the company’s stock.
About CTI BioPharma (NASDAQ:CTIC)
CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.
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