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Shares of Cell Therapeutics (NASDAQ:CTIC) were the target of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 9,913,697 shares, a decline of 28.7% from the May 15th total of 13,909,363 shares, Stock Ratings Network.com reports. Based on an average daily volume of 2,709,970 shares, the short-interest ratio is currently 3.7 days. Approximately 0.0% of the company’s stock are sold short.

In other Cell Therapeutics news, EVP Louis A. Bianco sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $2.97, for a total value of $29,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Ladenburg Thalmann initiated coverage on shares of Cell Therapeutics in a research note on Thursday, May 22nd. They set a “buy” rating and a $6.00 price target on the stock. Analysts at WallachBeth Capital initiated coverage on shares of Cell Therapeutics in a research note on Wednesday, March 19th. They set a “hold” rating and a $4.50 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $4.83.

Cell Therapeutics (NASDAQ:CTIC) opened at 3.10 on Tuesday. Cell Therapeutics has a one year low of $0.97 and a one year high of $4.25. The stock has a 50-day moving average of $2.9 and a 200-day moving average of $3.00. The company’s market cap is $440.6 million.

Cell Therapeutics (NASDAQ:CTIC) last announced its earnings results on Tuesday, April 29th. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.17) by $0.03. The company had revenue of $1.40 million for the quarter, compared to the consensus estimate of $1.10 million. On average, analysts predict that Cell Therapeutics will post $-0.60 earnings per share for the current fiscal year.

Cell Therapeutics, Inc develops, acquires and commercializes treatments for cancer. It focuses on building a biopharmaceutical company with a diversified portfolio of oncology drugs.

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