In the last trading session, 5.15 million shares of the CTI BioPharma Corp. (NASDAQ:CTIC) were traded, and its beta was 0.75. Most recently the company’s share price was $8.99, and it changed around $0.06 or 0.67% from the last close, which brings the market valuation of the company to $1.18B. CTIC currently trades at a discount to its 52-week high of $8.96, offering almost 0.33% off that amount. The share price’s 52-week low was $4.01, which indicates that the current value has risen by an impressive 55.39% since then. We note from CTI BioPharma Corp.’s average daily trading volume that its 10-day average is 20.05 million shares, with the 3-month average coming to 5.88 million.
CTI BioPharma Corp. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.60. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 6 recommended CTIC as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. CTI BioPharma Corp. is expected to report earnings per share of -$0.08 for the current quarter.
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CTI BioPharma Corp. (NASDAQ:CTIC) trade information
Instantly CTIC has showed a green trend with a performance of 0.67% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 9.05 on Tuesday, 05/23/23 increased the stock’s daily price by 0.66%. The company’s shares are currently up 49.58% year-to-date, but still up 0.90% over the last five days. On the other hand, CTI BioPharma Corp. (NASDAQ:CTIC) is 75.93% up in the 30-day period. We can see from the shorts that 12.17 million shares have been sold at a short interest cover period of 3.92 day(s).
The consensus price target as assigned by Wall Street analysts is $10.30, which translates to bulls needing to increase their stock price by 12.72% from its current value. Analyst projections state that CTIC is forecast to be at a low of $9.00 and a high of $15.00. In order for the stock price to hit the forecast high, the stock would need to plunge -66.85% from its current level, while the stock would need to crash -0.11% from its current level to reach the projected low.
CTI BioPharma Corp. (CTIC) estimates and forecasts
CTI BioPharma Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 52.37 percent over the past six months and at a 69.14% annual growth rate that is well above the industry average of 13.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 61.90% in revenue this quarter, and will report an increase of 61.50% in the next quarter. The year-over-year growth rate is expected to be 129.90%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $28.33 million in revenue for the current quarter. 9 analysts expect CTI BioPharma Corp. to make $33.54 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $12.33 million and $17.17 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 129.80%. Forecasts for the next quarter put sales growth at 95.30%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 8.10%.
CTI BioPharma Corp.’s next quarterly earnings report is expected to be released around August 07 and August 11.
CTI BioPharma Corp. (NASDAQ:CTIC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.50% of CTI BioPharma Corp. shares, and 83.29% of them are in the hands of institutional investors. The stock currently has a share float of 88.13%. CTI BioPharma Corp. stock is held by 195 institutions, with State Street Corporation being the largest institutional investor. By Mar 30, 2023, it held 9.43% of the shares, which is about 12.44 million shares worth $52.24 million.
Rubric Capital Management LP, with 6.80% or 8.96 million shares worth $37.65 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 12.49 million shares worth $68.18 million, making up 9.47% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.48 million shares worth around $20.94 million, which represents about 2.64% of the total shares outstanding.