5 Best Medical Stocks Under $5

3. CTI BioPharma Corp. (NASDAQ:CTIC)

Number of Hedge Fund Holders: 17

CTI BioPharma Corp. (NASDAQ:CTIC) is a blood cancer treatment developer headquartered in Seattle, Washington, the United States. The firm’s treatments target adults with myelofibrosis.

CTI BioPharma Corp. (NASDAQ:CTIC) reported $12.3 million in revenue during its second quarter, and at the same time, the firm also had $8.2 million in receivables – a strong indicator of its third quarter revenue especially since they are more than half of what the revenue was. CTI BioPharma Corp. (NASDAQ:CTIC) has also been an analyst darling in October 2022, with Jefferies and SVB Securities setting $13 share price targets for the company, and setting Buy and Outperform ratings for the shares, respectively.

CTI BioPharma Corp. (NASDAQ:CTIC) also expects its current financial resources to last one more year of operations. The firm’s shares have rallied by a whopping 78% year to date. As this year’s second quarter ended, 17 out of the 895 hedge funds polled by Insider Monkey owned CTI BioPharma Corp. (NASDAQ:CTIC) shares.

CTI BioPharma Corp. (NASDAQ:CTIC)’s largest investor is Mark Lampert’s Biotechnology Value Fund / BVF Inc which owns 53 million shares that are worth $8.9 million.