CTI BioPharma Corp. (NASDAQ:CTIC) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 437,540 shares, a decrease of 23.5% from the August 15th total of 571,837 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 129,982 shares, the days-to-cover ratio is presently 3.4 days.

CTI BioPharma Corp. (NASDAQ CTIC) opened at 3.32 on Friday. The stock’s market cap is $105.33 million. The firm has a 50-day moving average price of $3.34 and a 200-day moving average price of $3.76. CTI BioPharma Corp. has a 12-month low of $0.36 and a 12-month high of $6.48.

CTI BioPharma Corp. (NASDAQ:CTIC) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.63. CTI BioPharma Corp. had a negative return on equity of 418.99% and a negative net margin of 136.76%. The business had revenue of $22.23 million for the quarter. Analysts forecast that CTI BioPharma Corp. will post ($1.26) EPS for the current fiscal year.

Separately, Jefferies Group LLC started coverage on CTI BioPharma Corp. in a report on Tuesday, September 12th. They issued a “buy” rating and a $7.50 price target for the company.

Several hedge funds have recently modified their holdings of the stock. Segantii Capital Management Ltd bought a new position in shares of CTI BioPharma Corp. in the 1st quarter valued at approximately $102,000. WASHINGTON TRUST Co bought a new position in shares of CTI BioPharma Corp. in the 2nd quarter valued at approximately $104,000. Acadian Asset Management LLC bought a new position in shares of CTI BioPharma Corp. in the 1st quarter valued at approximately $181,000. Finally, Stonepine Capital Management LLC bought a new position in shares of CTI BioPharma Corp. in the 2nd quarter valued at approximately $7,561,000. 42.87% of the stock is currently owned by institutional investors and hedge funds.

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CTI BioPharma Corp. Company Profile

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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