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Is a Correction Looming Ahead for CTI BioPharma Corp. (CTIC)

CTI BioPharma Corp. (NASDAQ:CTIC) went up by 1.35% from its latest closing price compared to the recent 1-year high of $7.80. The company’s stock price has collected 1.52% of gains in the last five trading sessions.

Is It Worth Investing in CTI BioPharma Corp. (NASDAQ :CTIC) Right Now?

Plus, the 36-month beta value for CTIC is at 0.85.

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CTIC currently public float of 125.93M and currently shorts hold a 11.51% ratio of that float. Today, the average trading volume of CTIC was 3.09M shares.

CTIC’s Market Performance

CTIC stocks went up by 1.52% for the week, with a monthly jump of 5.26% and a quarterly performance of 34.83%, while its annual performance rate touched 171.49%. The volatility ratio for the week stands at 4.17% while the volatility levels for the past 30 days are set at 5.28% for CTI BioPharma Corp. The simple moving average for the period of the last 20 days is 6.31% for CTIC stocks with a simple moving average of 6.67% for the last 200 days.

Analysts’ Opinion of CTIC

Many brokerage firms have already submitted their reports for CTIC stocks, with SVB Leerink repeating the rating for CTIC by listing it as a “Outperform.” The predicted price for CTIC in the upcoming period, according to SVB Leerink is $13 based on the research report published on October 17th of the previous year 2022.

Jefferies, on the other hand, stated in their research note that they expect to see CTIC reach a price target of $13. The rating they have provided for CTIC stocks is “Buy” according to the report published on September 01st, 2022.

Cowen gave a rating of “Outperform” to CTIC, setting the target price at $10 in the report published on July 07th of the previous year.

CTIC Trading at 5.13% from the 50-Day Moving Average

After a stumble in the market that brought CTIC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.08% of loss for the given period.

Volatility was left at 5.28%, however, over the last 30 days, the volatility rate increased by 4.17%, as shares surge +5.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.82% upper at present.

During the last 5 trading sessions, CTIC rose by +1.52%, which changed the moving average for the period of 200-days by +25.00% in comparison to the 20-day moving average, which settled at $5.66. In addition, CTI BioPharma Corp. saw -0.17% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CTIC starting from Craig Adam R, who sale 84,683 shares at the price of $6.01 back on Jan 03. After this action, Craig Adam R now owns 29,440 shares of CTI BioPharma Corp., valued at $509,224 using the latest closing price.

KIRSKE DAVID, the EVP, Chief Financial Officer of CTI BioPharma Corp., sale 27,021 shares at $6.01 during a trade that took place back on Jan 03, which means that KIRSKE DAVID is holding 17,127 shares at $162,423 based on the most recent closing price.

Stock Fundamentals for CTIC

Equity return is now at value 971.20, with -97.30 for asset returns.

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