CTI BioPharma Corp (CTIC) Major Shareholder Bvf Partners L. P/Il Acquires 5,634,108 Shares

CTI BioPharma Corp (NASDAQ:CTIC) major shareholder Bvf Partners L. P/Il bought 5,634,108 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $3.00 per share, for a total transaction of $16,902,324.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of CTI BioPharma Corp (NASDAQ CTIC) traded up $0.11 during trading hours on Monday, hitting $3.32. 633,711 shares of the stock were exchanged, compared to its average volume of 424,768. The company has a market cap of $142.65, a price-to-earnings ratio of -3.22 and a beta of 0.50. CTI BioPharma Corp has a 1 year low of $2.45 and a 1 year high of $4.90. The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26.

Separately, Zacks Investment Research raised shares of CTI BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Wednesday, December 27th.

An institutional investor recently bought a new position in CTI BioPharma stock. JPMorgan Chase & Co. purchased a new position in CTI BioPharma Corp (NASDAQ:CTIC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 85,448 shares of the biopharmaceutical company’s stock, valued at approximately $272,000. JPMorgan Chase & Co. owned about 0.20% of CTI BioPharma at the end of the most recent reporting period. Hedge funds and other institutional investors own 42.84% of the company’s stock.

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CTI BioPharma 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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