Insider Buying: CTI BioPharma Corp (CTIC) Insider Purchases 6,333,333 Shares of Stock

CTI BioPharma Corp (NASDAQ:CTIC) insider Value Fund L. P. Biotechnology acquired 6,333,333 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $3.00 per share, for a total transaction of $18,999,999.00. The acquisition was disclosed in a filing with the SEC, which is available through this link.

CTI BioPharma Corp (CTIC) traded up $0.11 on Monday, reaching $3.32. The company’s stock had a trading volume of 633,711 shares, compared to its average volume of 424,768. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.17 and a current ratio of 2.19. The stock has a market capitalization of $142.65, a P/E ratio of -3.22 and a beta of 0.50. CTI BioPharma Corp has a one year low of $2.45 and a one year high of $4.90.

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

A hedge fund recently bought a new stake in CTI BioPharma stock. JPMorgan Chase & Co. bought a new position in shares of CTI BioPharma Corp (NASDAQ:CTIC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 85,448 shares of the biopharmaceutical company’s stock, valued at approximately $272,000. JPMorgan Chase & Co. owned approximately 0.20% of CTI BioPharma as of its most recent filing with the Securities and Exchange Commission (SEC). 42.84% of the stock is owned by institutional investors.

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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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