Cell Therapeutics Inc (NASDAQ:CTIC) Shares Lose

1290

Boston, MA – (Financialstrend) – 03/24/2014 – James A. Bianco, the chief Executive Officer of Cell Therapeutics Inc (NASDAQ:CTIC) sold-off 395,000 shares of the company stock in the transaction that was dated Friday, 21 March. This stock was offloaded at an average-price of $3.83, and the value of the total transaction was $1,512,850.00. Post completion of this sale, the CEO now directly-owns 2,402,794 shares of Cell Therapeutics Inc (NASDAQ:CTIC) stock, valued at around $9,202,701. This transaction was disclosed in the filing with the SEC.

In separate news, analysts at the Wallach Beth Capital firm have initiated coverage on Cell Therapeutics Inc (NASDAQ:CTIC) shares in the research note to investors. They have assigned a rating of “hold” and a price target of $4.50 on the stock. Cell Therapeutics Inc (NASDAQ:CTIC) last posted the company’s quarterly-earnings results on 4 March. It reported earnings per share of $0.08 for the quarter, which beat the average projection of $0.16 by $0.24.

Cell Therapeutics Inc (NASDAQ:CTIC) had revenue of $32.90M for the quarter, in comparison to the average projection of $1.26 million. In the same quarter of the previous year, Cell Therapeutics Inc (NASDAQ:CTIC) posted earnings per share of $0.19. Analysts project that Cell Therapeutics Inc (NASDAQ:CTIC) will post earnings per share of $-0.39 for the current financial year.

Cell Therapeutics Inc (NASDAQ:CTIC) is a company in the biopharmaceutical space that is focused on acquisition and development as well as the commercialization of much less-toxic ways to treat cancer. It is concentrating efforts on the treatments that effectively target blood-related cancers wherever there is an unmet-medical need. It is mainly focused on commercializing of PIXUVRI in the EU for multiplies relapsed/ refractory aggressive non- Hodgkin lymphoma & is conducting its Phase III clinical-trial of pacritinib in treating of myelofibrosis. PIXUVRI is the novel aza-anthracenedione-derivative that is also structurally related to anthracyclines & anthracenediones, but it does not appear to actually be associated with that same level of cardiotoxic-effects.