GT Biopharma, Inc. (NASDAQ:GTBP) Shares Shorted: Short Interest Down 93.3% in September

GT Biopharma, Inc. (NASDAQ:GTBP) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 256,614 shares, a decrease of 93.3% from the August 31st total of 3,842,169 shares. Currently, 14.4% of the company’s stock are short sold. Based on an average trading volume of 187,344 shares, the days-to-cover ratio is presently 1.4 days.

GT Biopharma Trading Up 0.9%

Shares of GTBP traded up $0.06 during mid-day trading on Friday, hitting $6.89. 79,742 shares of the company’s stock were exchanged, compared to its average volume of 119,157. GT Biopharma has a fifty-two week low of $4.91 and a fifty-two week high of $34.25. The business’s 50 day moving average is $7.52 and its two-hundred day moving average is $9.41. The firm has a market capitalization of $12.43 million, a P/E ratio of -0.05 and a beta of 0.91.

GT Biopharma (NASDAQ:GTBP) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.04). On average, equities research analysts forecast that GT Biopharma will post -10.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered GT Biopharma to a “strong sell” rating in a research report on Saturday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of GT Biopharma in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On GT Biopharma

A hedge fund recently bought a new position in GT Biopharma stock. 49 Wealth Management LLC purchased a new position in shares of GT Biopharma, Inc. (NASDAQ:GTBP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 64,000 shares of the company’s stock, valued at approximately $31,000. 49 Wealth Management LLC owned 0.14% of GT Biopharma at the end of the most recent reporting period. Institutional investors own 8.15% of the company’s stock.

GT Biopharma Company Profile

GT Biopharma, Inc is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s research centers on its proprietary TriKE (Tandem Trispecific Killer Engager) platform, which is designed to activate natural killer (NK) cells and direct them toward malignant cells while supporting NK-cell expansion and persistence.

GT Biopharma has developed investigational product candidates intended to target blood cancers and solid tumors. Its programs have included candidates directed at cancer-associated antigens such as CD33 and CD19, with potential applications in diseases including acute myeloid leukemia and other hematologic malignancies.