GT Biopharma, Inc. (NASDAQ:GTBP) Short Interest Down 51.2% in March

GT Biopharma, Inc. (NASDAQ:GTBP) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 1,019,371 shares, a drop of 51.2% from the February 26th total of 2,089,377 shares. Based on an average daily volume of 729,020 shares, the short-interest ratio is currently 1.4 days. Currently, 3.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On GT Biopharma

An institutional investor recently bought a new position in GT Biopharma stock. SeaCrest Wealth Management LLC bought a new stake in GT Biopharma, Inc. (NASDAQ:GTBP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $37,000. SeaCrest Wealth Management LLC owned approximately 0.47% of GT Biopharma as of its most recent SEC filing. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of GT Biopharma in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

GT Biopharma Stock Performance

Shares of NASDAQ:GTBP traded down $0.02 during midday trading on Thursday, reaching $0.45. The company had a trading volume of 404,814 shares, compared to its average volume of 1,215,240. The company has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $0.66. The firm has a market cap of $14.07 million, a price-to-earnings ratio of -0.07 and a beta of 1.28. GT Biopharma has a 1-year low of $0.39 and a 1-year high of $3.85.

GT Biopharma Company Profile

GT Biopharma, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel immuno-oncology therapies utilizing its proprietary Tri-specific NK cell engager (TriKE) platform. This technology is designed to harness and enhance the body’s natural killer (NK) cells by simultaneously binding tumor antigens and interleukin-15 (IL-15), stimulating NK cell proliferation and targeted cytotoxicity. By focusing on NK cell engagement rather than T-cell activation, the company aims to offer therapies with potentially improved safety profiles and reduced immune-related adverse events.

The company’s lead candidate, GTB-3550, is currently in clinical trials for hematologic malignancies such as acute myeloid leukemia (AML), chronic lymphocytic leukemia (CLL) and myelodysplastic syndromes (MDS).