Vanguard Group Inc. lowered its stake in shares of CTI BioPharma Corp. (NASDAQ:CTIC) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 753,379 shares of the biopharmaceutical company’s stock after selling 59,119 shares during the quarter. Vanguard Group Inc. owned 2.69% of CTI BioPharma worth $2,494,000 at the end of the most recent quarter.
Separately, WASHINGTON TRUST Co bought a new stake in CTI BioPharma during the second quarter worth $104,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.
CTI BioPharma Corp. (CTIC) opened at $2.68 on Thursday. The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26. CTI BioPharma Corp. has a 12 month low of $2.63 and a 12 month high of $6.48.
A number of research analysts have issued reports on the company. ValuEngine downgraded CTI BioPharma from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 11th. Jefferies Group assumed coverage on CTI BioPharma in a research note on Tuesday, September 12th. They issued a “buy” rating and a $7.50 price objective for the company.
In other CTI BioPharma news, Director Richard L. Love sold 14,600 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $3.21, for a total value of $46,866.00. Following the completion of the transaction, the director now owns 84,318 shares in the company, valued at approximately $270,660.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.08% of the stock is owned by corporate insiders.
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About CTI BioPharma
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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