GT Biopharma (NASDAQ:GTBP) Stock Price Up 18.5% – Still a Buy?

GT Biopharma, Inc. (NASDAQ:GTBP) shares were up 18.5% on Thursday. The stock traded as high as $7.40 and last traded at $7.36. Approximately 63,035 shares traded hands during trading, an increase of 38% from the average session volume of 45,536 shares. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GTBP. Weiss Ratings reissued a “sell (e+)” rating on shares of GT Biopharma in a report on Friday, October 2nd. Wall Street Zen downgraded shares of GT Biopharma to a “strong sell” rating in a research note on Saturday, September 12th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, GT Biopharma has a consensus rating of “Sell”.

GT Biopharma Stock Performance

The stock has a market capitalization of $15.16 million, a P/E ratio of -0.05 and a beta of 0.86. The stock has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $8.96.

GT Biopharma (NASDAQ:GTBP) last announced its earnings results on Friday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Equities analysts anticipate that GT Biopharma, Inc. will post -10.75 earnings per share for the current fiscal year.

Institutional Trading of GT Biopharma

An institutional investor recently bought a new position in GT Biopharma stock. 49 Wealth Management LLC purchased a new position in GT Biopharma, Inc. (NASDAQ:GTBP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 64,000 shares of the company’s stock, valued at approximately $31,000. 49 Wealth Management LLC owned approximately 0.14% of GT Biopharma as of its most recent SEC filing. 8.15% of the stock is currently owned by institutional investors and hedge funds.

About GT Biopharma

GT Biopharma, Inc is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s research is centered on its proprietary TriKE (Tri-specific Killer Engager) platform, which is designed to activate natural killer (NK) cells, direct them toward cancer cells expressing selected tumor antigens, and support NK-cell expansion through an interleukin-15 component.

GT Biopharma’s product candidates are being developed for hematologic malignancies and potentially solid tumors.