Fintel reports that State Street has filed a 13G/A form with the SEC disclosing ownership of 16.00MM shares of CTI BioPharma Corp (CTIC). This represents 12.61% of the company.
In their previous filing dated October 11, 2022 they reported 13.74MM shares and 12.01% of the company, an increase in shares of 16.45% and an increase in total ownership of 0.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 102.42% Upside
As of February 3, 2023, the average one-year price target for CTI BioPharma is $11.64. The forecasts range from a low of $8.79 to a high of $15.75. The average price target represents an increase of 102.42% from its latest reported closing price of $5.75.
The projected annual revenue for CTI BioPharma is $161MM, an increase of 388.82%. The projected annual EPS is $-0.01.
Fund Sentiment
There are 278 funds or institutions reporting positions in CTI BioPharma. This is an increase of 14 owner(s) or 5.30%.
Average portfolio weight of all funds dedicated to US:CTIC is 0.1844%, an increase of 1.9099%. Total shares owned by institutions increased in the last three months by 9.50% to 103,380K shares.
What are large shareholders doing?
XBI - SPDR Biotech ETF holds 11,978,761 shares representing 9.44% ownership of the company. In it's prior filing, the firm reported owning 8,240,738 shares, representing an increase of 31.21%. The firm increased its portfolio allocation in CTIC by 41.87% over the last quarter.
Bvf holds 8,813,021 shares representing 6.95% ownership of the company. In it's prior filing, the firm reported owning 8,929,690 shares, representing a decrease of 1.32%. The firm decreased its portfolio allocation in CTIC by 17.70% over the last quarter.
Stonepine Capital Management holds 5,669,388 shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 3,681,195 shares, representing an increase of 35.07%. The firm increased its portfolio allocation in CTIC by 45.07% over the last quarter.
Millennium Management holds 4,754,128 shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 3,168,087 shares, representing an increase of 33.36%. The firm increased its portfolio allocation in CTIC by 39.45% over the last quarter.
Lion Point Capital holds 4,389,546 shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 5,489,546 shares, representing a decrease of 25.06%. The firm increased its portfolio allocation in CTIC by 56.25% over the last quarter.
CTI BioPharma Background Information
(This description is provided by the company.)
CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. The company concentrates its efforts on treatments that target blood-related cancers where there is an unmet medical need. In particular, we are focused on evaluating pacritinib, our sole product candidate currently in active late-stage development, for the treatment of adult patients with myelofibrosis. In addition, the company has recently started developing pacritinib for use in hospitalized patients with severe COVID-19, in response to the COVID-19 pandemic. The company's headquartered in Seattle, Washington.
This story originally appeared on Fintel.
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