Short Interest in CTI BioPharma Corp (NASDAQ:CTIC) Rises By 70.5%

CTI BioPharma Corp (NASDAQ:CTIC) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 312,700 shares, a growth of 70.5% from the August 30th total of 183,400 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 137,100 shares, the days-to-cover ratio is presently 2.3 days.

Shares of CTIC stock traded up $0.03 on Friday, hitting $0.78. 49,610 shares of the stock were exchanged, compared to its average volume of 107,377. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.20. CTI BioPharma has a one year low of $0.60 and a one year high of $2.11. The firm’s 50 day moving average is $0.79 and its two-hundred day moving average is $0.84.

CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The company had revenue of $0.42 million during the quarter. CTI BioPharma had a negative return on equity of 77.77% and a negative net margin of 225.01%.

Several hedge funds have recently bought and sold shares of CTIC. Renaissance Technologies LLC grew its stake in shares of CTI BioPharma by 24.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,596,587 shares of the biopharmaceutical company’s stock worth $1,372,000 after acquiring an additional 314,235 shares during the period. Fosun International Ltd grew its stake in shares of CTI BioPharma by 52.9% during the 2nd quarter. Fosun International Ltd now owns 459,274 shares of the biopharmaceutical company’s stock worth $390,000 after acquiring an additional 158,846 shares during the period. Jane Street Group LLC bought a new position in shares of CTI BioPharma during the 2nd quarter worth $119,000. Finally, SG Americas Securities LLC grew its stake in shares of CTI BioPharma by 44.0% during the 2nd quarter. SG Americas Securities LLC now owns 56,132 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 17,163 shares during the period. Institutional investors own 47.04% of the company’s stock.

About CTI BioPharma

CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.

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