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Friday, June 9, 2023

Analyst Expects CTI BioPharma Corp. (NASDAQ: CTIC) To Make Big Moves

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for CTI BioPharma Corp. (CTIC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.0088, or 0.10%, to $8.9288. The CTI BioPharma Corp. has recorded 1,490,678 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Sobi to Acquire CTI BioPharma.

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Stocks Info

As a NASDAQ listed company, CTIC falls under the Healthcare sector while operating within the Biotechnology industry segment. At the end of the last regular session, the stock closed at $8.92 and fluctuated between $8.93 as its day high and $8.92 as its day low. The current market capitalization of CTI BioPharma Corp. is $1.17B. A total of 2.93 million shares were traded on the day, compared to an average of 5.87M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, CTIC has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 41 BUYs and 55 SELLs from insiders. Insiders purchased 1,425,222 shares during that period but sold 1,466,636.

In the most recent transaction, Fong James K sold 100,000 shares of CTIC for 6.00 per share on Jan 24. After the transaction, the EVP & Chief Commercial Officer now owns 3,565 company shares. In a previous transaction on Jan 24, Craig Adam R sold 85,317 shares at 6.00 per share. CTIC shares that President and CEO owns now total 29,440.

Among the insiders who sold shares, Craig Adam R disposed of 84,683 shares on Jan 03 at a per-share price of $6.01. This resulted in the President and CEO holding 29,440 shares of CTIC after the transaction. In another insider transaction, KIRSKE DAVID sold 27,021 shares at $6.01 per share on Jan 03. Company shares held by the EVP, Chief Financial Officer now total 17,127.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for CTIC in the last 3 months, the mean price target is $10.30 with high estimates of $15.00 and low estimates of $9.00. In terms of 52-week highs and lows, CTIC has a high of $8.96 and a low of $4.01.

As of this writing, CTIC has an earnings estimate of -$0.08 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of -$0.05 per share and a lower estimate of -$0.14. The company reported an EPS of -$0.14 in the last quarter, which was -40.00% lower than expectations of -$0.1.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. CTIC’s latest balance sheet shows that the firm has $65.45M in Cash & Short Term Investments as of fiscal 2021. There were $50.56M in debt and $66.65M in liabilities at the time. Its Book Value Per Share was -$0.14, while its Total Shareholder’s Equity was $3.77M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CTIC is Buy with a score of 3.88.

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