© Reuters. Orbimed Advisors reduced stake in CTI BioPharma Corp.

On the 7th of January, Orbimed Advisors sold 2 million CTI BioPharma Corp. (NASDAQ:) shares for $7 million at an average price of $3.50 per share.
Shares of CTI BioPharma Corp. are down -2.27% since the transaction.

Orbimed Advisors’s holding in CTI BioPharma Corp. decreased to about 7.5 million shares with the transaction.

Orbimed Advisors first bought CTI BioPharma Corp. stock in the second quarter of 2017.
Orbimed Advisors also owns Bristol-Myers Squibb Co (NYSE:), Merck (MRK), Larimar Therapeutics, Inc. (LRMR) and Mirati Therapeutics Inc (NASDAQ:).
CTI BioPharma Corp. is its number thirty six position by number of shares and market value among biotechnology & life sciences stocks.

Other investors who also reduced their CTI BioPharma Corp. shares include Victory Capital Management.

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