GT Biopharma (NASDAQ:GTBP) Stock Falls 6.2% – Here’s What Happened

GT Biopharma, Inc. (NASDAQ:GTBP) fell 6.2% during trading on Thursday. The stock traded as low as $4.38 and last traded at $4.54. Approximately 73,372 shares traded hands during trading, an increase of 18% from the average session volume of 62,189 shares. The stock had previously closed at $4.84.

Analyst Ratings Changes

Several equities research analysts have weighed in on GTBP shares. Wall Street Zen downgraded shares of GT Biopharma to a “strong sell” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GT Biopharma in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, GT Biopharma has a consensus rating of “Sell”.

GT Biopharma Price Performance

The firm has a market cap of $9.11 million, a price-to-earnings ratio of -0.03 and a beta of 0.88. The firm has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $9.50.

GT Biopharma (NASDAQ:GTBP) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.12) earnings per share 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 Inflows and Outflows

An institutional investor recently bought a new stake in GT Biopharma stock. 49 Wealth Management LLC bought a new stake in GT Biopharma, Inc. (NASDAQ:GTBP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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. 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 centers on natural killer (NK) cells, a component of the immune system that can recognize and destroy abnormal cells.

GT Biopharma’s principal technology is its TriKE (trispecific killer engager) platform. These engineered molecules are designed to bind a cancer-associated target, activate NK cells through the CD16 receptor, and enhance NK-cell activity through an interleukin-15 component.