Quantamental Technologies LLC Buys Shares of 10,624 CTI BioPharma Corp. (NASDAQ:CTIC)

Posted by on Mar 12th, 2023

Quantamental Technologies LLC purchased a new position in CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,624 shares of the biopharmaceutical company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in CTI BioPharma during the third quarter valued at $154,000. Ensign Peak Advisors Inc increased its holdings in shares of CTI BioPharma by 373.7% during the third quarter. Ensign Peak Advisors Inc now owns 706,277 shares of the biopharmaceutical company’s stock valued at $4,111,000 after acquiring an additional 557,186 shares in the last quarter. BlackRock Inc. raised its position in shares of CTI BioPharma by 12.0% in the 3rd quarter. BlackRock Inc. now owns 6,598,773 shares of the biopharmaceutical company’s stock worth $38,405,000 after purchasing an additional 707,804 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in CTI BioPharma by 313.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 263,956 shares of the biopharmaceutical company’s stock worth $1,536,000 after purchasing an additional 200,133 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in CTI BioPharma during the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

CTI BioPharma Trading Down 2.0 %

Shares of CTIC stock opened at $4.45 on Friday. The stock has a market capitalization of $586.67 million, a P/E ratio of -5.24 and a beta of 0.91. The firm’s 50 day moving average is $5.47 and its 200 day moving average is $5.59. CTI BioPharma Corp. has a 12-month low of $3.32 and a 12-month high of $7.80.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last released its quarterly earnings results on Monday, March 6th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The business had revenue of $21.08 million for the quarter, compared to analysts’ expectations of $24.88 million. CTI BioPharma had a negative net margin of 172.37% and a negative return on equity of 5,105.50%. During the same period in the previous year, the company earned ($0.38) EPS. As a group, equities analysts predict that CTI BioPharma Corp. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

CTIC has been the subject of several recent analyst reports. StockNews.com cut shares of CTI BioPharma from a “hold” rating to a “sell” rating in a report on Monday, March 6th. JMP Securities restated a “market outperform” rating and issued a $9.00 price objective on shares of CTI BioPharma in a report on Tuesday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of CTI BioPharma in a research note on Monday, March 6th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Insiders Place Their Bets

In other news, CEO Adam R. Craig sold 85,317 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $6.00, for a total transaction of $511,902.00. Following the completion of the sale, the chief executive officer now owns 29,440 shares of the company’s stock, valued at approximately $176,640. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Adam R. Craig sold 84,683 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $6.01, for a total value of $508,944.83. Following the transaction, the chief executive officer now owns 29,440 shares of the company’s stock, valued at $176,934.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam R. Craig sold 85,317 shares of CTI BioPharma stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $6.00, for a total value of $511,902.00. Following the transaction, the chief executive officer now directly owns 29,440 shares in the company, valued at $176,640. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,021 shares of company stock worth $1,783,243. Company insiders own 10.20% of the company’s stock.

CTI BioPharma Profile

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CTI BioPharma Corp. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. It focuses on evaluating pacritinib, its sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis.

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Institutional Ownership by Quarter for CTI BioPharma (NASDAQ:CTIC)

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