GT Biopharma (NASDAQ:GTBP) Trading Down 4.5%

Shares of GT Biopharma, Inc. (NASDAQ:GTBP) traded down 4.5% on Wednesday . The stock traded as low as $2.72 and last traded at $2.75. 22,292 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 698,989 shares. The stock had previously closed at $2.88.

GT Biopharma Stock Performance

The stock’s 50 day simple moving average is $3.37 and its 200 day simple moving average is $4.64.

GT Biopharma (NASDAQ:GTBP) last announced its earnings results on Wednesday, May 15th. The company reported ($2.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.70) by $0.58.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GT Biopharma stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of GT Biopharma, Inc. (NASDAQ:GTBP) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,093,645 shares of the company’s stock, valued at approximately $47,449,000. DekaBank Deutsche Girozentrale owned approximately 77.02% of GT Biopharma as of its most recent filing with the SEC. 8.15% of the stock is owned by institutional investors and hedge funds.

GT Biopharma Company Profile

GT Biopharma, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology products based on its proprietary Tri-specific Killer Engager (TriKE) fusion protein immune cell engager technology platform. It develops GTB-3550, a single-chain tri-specific recombinant fusion protein conjugate that is in Phase I clinical trial for the treatment of myelodysplastic syndromes, refractory/relapsed acute myeloid leukemia or advanced systemic mastocytosis, and CD33+ malignancies.