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

GT Biopharma, Inc. (NASDAQ:GTBP) was the target of a significant drop in short interest during 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. Based on an average trading volume of 187,344 shares, the short-interest ratio is currently 1.4 days. Approximately 14.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of GT Biopharma in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of GT Biopharma to a “strong sell” rating in a report on Saturday, September 12th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

GT Biopharma Stock Down 3.8%

GTBP stock traded down $0.27 during midday trading on Thursday, hitting $6.83. The company’s stock had a trading volume of 28,115 shares, compared to its average volume of 116,273. The firm has a 50-day simple moving average of $7.56 and a 200-day simple moving average of $9.43. The firm has a market capitalization of $12.29 million, a P/E ratio of -0.05 and a beta of 0.91. GT Biopharma has a 52-week low of $4.91 and a 52-week high of $34.25.

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

Institutional Trading of GT Biopharma

A hedge fund recently bought a new stake in GT Biopharma stock. Everhart Financial Group Inc. purchased a new position in shares of GT Biopharma, Inc. (NASDAQ:GTBP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company’s stock, valued at approximately $49,000. Everhart Financial Group Inc. owned approximately 0.23% of GT Biopharma as of its most recent SEC filing. Institutional investors and hedge funds 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.