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With 73.32% Distance From Low, Is CTI BioPharma Corp. (NASDAQ:CTIC) Still Renewed For Growth?

In last trading session, CTI BioPharma Corp. (NASDAQ:CTIC) saw 3.25 million shares changing hands with its beta currently measuring 0.89. Company’s recent per share price level of $5.36 trading at -$0.25 or -4.46% at ring of the bell on the day assigns it a market valuation of $650.92M. That closing price of CTIC’s stock is at a discount of -45.52% from its 52-week high price of $7.80 and is indicating a premium of 73.32% from its 52-week low price of $1.43. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.07 million shares which gives us an average trading volume of 4.69 million if we extend that period to 3-months.

For CTI BioPharma Corp. (CTIC), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.60. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.15 in the current quarter.

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CTI BioPharma Corp. (NASDAQ:CTIC) trade information

Upright in the red during last session for losing -4.46%, in the last five days CTIC remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $5.36 price level, adding 17.16% to its value on the day. CTI BioPharma Corp.’s shares saw a change of 116.13% in year-to-date performance and have moved -19.16% in past 5-day. CTI BioPharma Corp. (NASDAQ:CTIC) showed a performance of -5.30% in past 30-days. Number of shares sold short was 15.61 million shares which calculate 2.99 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $10.74 to the stock, which implies a rise of 50.09% to its current value. Analysts have been projecting $7.90 as a low price target for the stock while placing it at a high target of $15.00. It follows that stock’s current price would drop -179.85% in reaching the projected high whereas dropping to the targeted low would mean a loss of -47.39% for stock’s current value.

CTI BioPharma Corp. (CTIC) estimates and forecasts

Statistics highlight that CTI BioPharma Corp. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 24.07% of value to its shares in past 6 months, showing an annual growth rate of 28.44% while that of industry is 11.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 42.30% in the current quarter and calculating 71.10% increase in the next quarter.

8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $17.8 million for the same. And 8 analysts are in estimates of company making revenue of $23.69 million in the next quarter that will end on Dec 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 10.20% during past 5 years.

CTIC Dividends

CTI BioPharma Corp. is more likely to be releasing its next quarterly report between March 15 and March 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

CTI BioPharma Corp. (NASDAQ:CTIC)’s Major holders

Insiders are in possession of 0.21% of company’s total shares while institution are holding 62.90 percent of that, with stock having share float percentage of 63.03%. Investors also watch the number of corporate investors in a company very closely, which is 62.90% institutions for CTI BioPharma Corp. that are currently holding shares of the company. BVF Inc. is the top institutional holder at CTIC for having 8.93 million shares of worth $41.7 million. And as of Mar 30, 2022, it was holding 8.19% of the company’s outstanding shares.

The second largest institutional holder is NEA Management Company, LLC, which was holding about 7.14 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 6.55% of outstanding shares, having a total worth of $33.35 million.

On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 8.18 million shares of worth $48.85 million or 7.51% of the total outstanding shares. The later fund manager was in possession of 2.4 million shares on Mar 30, 2022, making its stake of worth around $11.19 million in the company or a holder of 2.20% of company’s stock.

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