CTI BioPharma Corp (CTIC) Major Shareholder Acquires $16,902,324.00 in Stock

CTI BioPharma Corp (NASDAQ:CTIC) major shareholder Bvf Partners L. P/Il bought 5,634,108 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of CTI BioPharma Corp (NASDAQ CTIC) opened at $3.54 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.17 and a current ratio of 2.19. CTI BioPharma Corp has a 12 month low of $2.45 and a 12 month high of $4.85. The stock has a market cap of $152.11, a PE ratio of -3.44 and a beta of 0.50.

Separately, Zacks Investment Research lowered shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd.

Institutional investors have recently modified their holdings of the stock. OxFORD Asset Management LLP purchased a new position in CTI BioPharma in the 3rd quarter valued at about $164,000. JPMorgan Chase & Co. purchased a new position in CTI BioPharma in the 3rd quarter valued at about $272,000. Kennedy Capital Management Inc. purchased a new position in CTI BioPharma in the 4th quarter valued at about $660,000. Renaissance Technologies LLC lifted its stake in CTI BioPharma by 48.3% in the 4th quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock valued at $1,634,000 after buying an additional 198,700 shares in the last quarter. Finally, Stonepine Capital Management LLC lifted its stake in CTI BioPharma by 84.8% in the 4th quarter. Stonepine Capital Management LLC now owns 1,834,838 shares of the biopharmaceutical company’s stock valued at $4,917,000 after buying an additional 841,838 shares in the last quarter. 42.84% of the stock is currently owned by hedge funds and other institutional investors.

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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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