GT Biopharma, Inc. (NASDAQ:GTBP) Stock Short Interest Falls 93.3%

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

GT Biopharma Trading Down 1.0%

Shares of GTBP traded down $0.07 during mid-day trading on Friday, reaching $6.76. The company’s stock had a trading volume of 10,540 shares, compared to its average volume of 53,665. GT Biopharma has a 52 week low of $4.91 and a 52 week high of $34.25. The stock has a market cap of $12.18 million, a PE ratio of -0.05 and a beta of 0.91. The company’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $9.43.

GT Biopharma (NASDAQ:GTBP) last issued 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). Research analysts anticipate that GT Biopharma will post -10.75 EPS for the current year.

Hedge Funds Weigh In On GT Biopharma

A hedge fund recently bought a new stake 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 disclosure with the Securities and Exchange Commission. The fund 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. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GTBP. Wall Street Zen cut shares of GT Biopharma to a “strong sell” rating in a research report on Saturday, September 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GT Biopharma in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GT Biopharma currently has a consensus rating of “Sell”.

About GT Biopharma

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.