GT Biopharma, Inc. (NASDAQ:GTBP) Shares Shorted: Short Interest Down 93.3% in September

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

GT Biopharma Stock Performance

GTBP stock traded down $0.27 during midday trading on Thursday, reaching $6.83. 28,115 shares of the company were exchanged, compared to its average volume of 116,273. The company has a market cap of $12.29 million, a price-to-earnings ratio of -0.05 and a beta of 0.91. GT Biopharma has a 1-year low of $4.91 and a 1-year high of $34.25. The stock’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $9.43.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of GT Biopharma in a research note on Wednesday, July 8th. Wall Street Zen cut GT Biopharma to a “strong sell” rating in a research report on Saturday, September 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, GT Biopharma presently has an average rating of “Sell”.

Hedge Funds Weigh In On GT Biopharma

An institutional investor recently bought a new position in GT Biopharma stock. 49 Wealth Management LLC bought a new position in shares of GT Biopharma, Inc. (NASDAQ:GTBP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.15% of the company’s stock.

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.