CTI BioPharma (NASDAQ:CTIC) has witnessed a drop of 9.1% or 992,128 shares in its short figure. The short interest diminution took it from 10,858,128 on May 31,2016 to 9,866,000 on June 15,2016. In terms of floated shares, the short interest was calculated to be 4%. The days to cover are 13 given that the daily volume averaged 784,463 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
CTI BioPharma (NASDAQ:CTIC): The stock opened at $0.36 on Friday but the bulls could not build on the opening and the stock topped out at $0.38 for the day. The stock traded down to $0.36 during the day, due to lack of any buying support eventually closed down at $0.37 with a loss of -8.10% for the day. The stock had closed at $0.40 on the previous day. The total traded volume was 20,497,720 shares.
The company shares have dropped -80.83% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $2.08 and the one year low was seen on Feb 10, 2016. The 50-Day Moving Average price is $0.43 and the 200 Day Moving Average price is recorded at $0.70.
CTI BioPharma (NASDAQ:CTIC) has tumbled 7.5% during the past week and has dropped 19.28% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.97%. CTI BioPharma (NASDAQ:CTIC) has underperformed the index by 16.84% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
CTI BioPharma Corp. (CTI), formerly Cell Therapeutics, Inc., is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers that offer a benefit to patients and healthcare providers. The Company is focused on commercializing PIXUVRI (pixantrone), or PIXUVRI, in the European Union, for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL), and conducting a Phase III clinical trial program of pacritinib for the treatment of adult patients with myelofibrosis to support regulatory submission for approval in the United States and Europe. It is also engaged in evaluating pacritinib in earlier clinical trials as treatment for other blood-related cancers. Its development product candidates include tosedostat and Opaxio.