This trade activity should not be overlooked: CTI BioPharma Corp. (CTIC)

CTI BioPharma Corp. (NASDAQ: CTIC) stock jumped 1.35% on Tuesday to $6.00 against a previous-day closing price of $5.92. With 3.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.09 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $6.04 whereas the lowest price it dropped to was $5.86. The 52-week range on CTIC shows that it touched its highest point at $7.80 and its lowest point at $1.82 during that stretch. It currently has a 1-year price target of $11.41. Beta for the stock currently stands at 0.85.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTIC was up-trending over the past week, with a rise of 1.52%, but this was up by 5.26% over a month. Three-month performance surged to 34.83% while six-month performance fell -0.83%. The stock gained 171.49% in the past year, while it has lost -0.17% so far this year. A look at the trailing 12-month EPS for CTIC yields -1.09 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.10. This implies an EPS growth rate of -47.40% for this year and 97.30% for next year.

Float and Shares Shorts:

At present, 126.89 million CTIC shares are outstanding with a float of 125.93 million shares on hand for trading. On Oct 13, 2022, short shares totaled 17.62 million, which was 15.40% higher than short shares on Sep 14, 2022. In addition to Dr. Adam R. Craig M.B.A., M.D., Ph.D. as the firm’s Pres, CEO, Interim Chief Medical Officer & Director, Mr. David H. Kirske serves as its Exec. VP, CFO & Sec.


Institutional Ownership:

Through their ownership of 84.25% of CTIC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.86% of CTIC, in contrast to 46.71% held by mutual funds. Shares owned by individuals account for 28.04%. As the largest shareholder in CTIC with 10.83% of the stake, SSgA Funds Management, Inc. holds 13,742,554 shares worth 13,742,554. A second-largest stockholder of CTIC, BVF Partners LP, holds 8,813,021 shares, controlling over 6.95% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CTIC, holding 6,020,984 shares or 4.75% stake. With a 11.38% stake in CTIC, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 14,438,566 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.75% of CTIC stock, is the second-largest Mutual Fund holder. It holds 3,484,904 shares valued at 20.94 million. iShares Russell 2000 ETF holds 1.74% of the stake in CTIC, owning 2,210,763 shares worth 13.29 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTIC since 9 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTIC analysts setting a high price target of $15.00 and a low target of $8.70, the average target price over the next 12 months is $11.41. Based on these targets, CTIC could surge 150.0% to reach the target high and rise by 45.0% to reach the target low. Reaching the average price target will result in a growth of 90.17% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CTIC will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.80 being low. For CTIC, this leads to a yearly average estimate of -$0.75. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CTI BioPharma Corp. surprised analysts by $0.02 when it reported -$0.13 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.12. The average estimate for the next quarter is thus -$0.10.

Summary of Insider Activity:

Insiders traded CTIC stock several times over the past three months with 4 Buys and 13 Sells. In these transactions, 333,800 shares were bought while 333,800 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 1,068,487 while 1,067,909 shares were sold.

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