Cell Therapeutics (NASDAQ:CTIC) engages in the acquisition, development, and commercialization of treatments for cancer.
Insider selling during the last 30 days
Here is a table of Cell Therapeutics' insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Sold||Rule 10b5-1||Current Ownership||Decrease In Ownership|
|Louis Bianco||EVP||March 21||125,000||No||822,897 shares||13.2%|
|James Bianco||CEO||March 20-21||395,000||No||2,402,794 shares||14.1%|
|Matthew Plunkett||EVP||March 21||170,000||No||620,904 shares||21.5%|
|Richard Love||Director||March 7||40,000||No||509,265 shares||7.3%|
|Fred Telling||Director||March 7||72,095||No||401,170 shares||15.2%|
There have been 802,095 shares sold by insiders during the last 30 days.
Insider selling by calendar month
Here is a table of Cell Therapeutics' insider activity by calendar month.
|Month||Insider selling / shares||Insider buying / shares|
There have been 1,812,534 shares sold, and there have been zero shares purchased by insiders since January 2013. The month of March 2014 has seen the most insider selling.
Cell Therapeutics reported the full-year 2013 financial results on March 4 with the following highlights:
|Net product sales||$2.3 million|
|Net loss||$49.6 million|
The five insiders sold their shares after these results.
For 2014, Cell Therapeutics expects loss from operations to be approximately $45 million to $50 million.
Pipeline and upcoming milestones
Cell Therapeutics has one approved product and several product candidates in the pipeline.
(Source: Investor presentation)
Cell Therapeutics anticipates reporting topline results for PERSIST-1 in the second half of 2014.
Cell Therapeutics' competitors include Bristol-Myers Squibb Company (NYSE:BMY) with paclitaxel, Incyte (NASDAQ:INCY) with Jakafi, and Celgene (NASDAQ:CELG) with Vidaza. Here is a table comparing these companies.
|Qtrly Rev Growth (yoy):||N/A||0.06||-0.15||0.21|
|PEG (5 yr expected):||N/A||2.11||-1.12||0.81|
Cell Therapeutics has the highest short float among these four companies.
Here is a table of these competitors' insider activities this year.
|Company||Insider buying / shares||Insider selling / shares|
Bristol-Myers Squibb has also seen intensive insider selling during the last 30 days.
There have been five different insiders selling Cell Therapeutics, and there have not been any insiders buying Cell Therapeutics during the last 30 days. Four of these five insiders decreased their holdings by more than 10%. Cell Therapeutics has an insider ownership of 9.41%.
Before going short Cell Therapeutics, I would like to get a bearish confirmation from the Point & Figure chart. The main reason for the proposed short entry is the intensive insider-selling activity.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.