Stonepine Capital Management, LLC
revealed that they own a 5% stake in CTI BioPharma Corp (NASDAQ:CTIC) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission on Friday, January 12th. The investor owns 2,150,010 shares of the stock worth approximately $7,331,534. The reporting parties listed on the disclosure included Stonepine Capital Management, LLC, Stonepine Capital, LP, Jon M Plexico and Timothy P Lynch. The filing is available through the SEC website at this hyperlink.
Stonepine Capital Management, LLC
provided the following explanation of their ownership:
A number of other institutional investors have also recently bought and sold shares of CTIC. OxFORD Asset Management LLP bought a new stake in CTI BioPharma during the 3rd quarter worth approximately $164,000. JPMorgan Chase & Co. bought a new stake in CTI BioPharma during the 3rd quarter worth approximately $272,000. Finally, Stonepine Capital Management LLC bought a new stake in CTI BioPharma during the 2nd quarter worth approximately $7,561,000. 42.81% of the stock is currently owned by institutional investors and hedge funds.
CTIC has been the topic of a number of analyst reports. ValuEngine lowered shares of CTI BioPharma from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 11th. Zacks Investment Research raised shares of CTI BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Wednesday, December 27th.
Shares of CTI BioPharma Corp (NASDAQ:CTIC) traded up $0.13 during trading hours on Friday, hitting $3.41. 362,376 shares of the stock were exchanged, compared to its average volume of 234,633. The company has a market cap of $140.94, a price-to-earnings ratio of -3.31 and a beta of 0.53. CTI BioPharma Corp has a 1 year low of $2.45 and a 1 year high of $5.64. The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26.
CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.04. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.30 million. CTI BioPharma had a negative net margin of 96.91% and a negative return on equity of 209.67%. research analysts forecast that CTI BioPharma Corp will post -1.2 earnings per share for the current fiscal year.
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About CTI BioPharma
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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