Short Interest in GT Biopharma, Inc. (NASDAQ:GTBP) Drops By 61.6%

GT Biopharma, Inc. (NASDAQ:GTBP) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 16,500 shares, a decrease of 61.6% from the June 30th total of 43,000 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On GT Biopharma

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) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,093,645 shares of the company’s stock, valued at approximately $47,449,000. DekaBank Deutsche Girozentrale owned 77.02% of GT Biopharma at the end of the most recent quarter. Institutional investors and hedge funds own 8.15% of the company’s stock.

GT Biopharma Stock Performance

Shares of GTBP stock traded down $0.02 during trading on Friday, hitting $2.74. The company’s stock had a trading volume of 2,712 shares, compared to its average volume of 621,608. The business has a fifty day moving average of $3.23 and a 200-day moving average of $4.12. GT Biopharma has a 52 week low of $2.60 and a 52 week high of $10.66.

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

About GT Biopharma

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.