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

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen downgraded GT Biopharma to a “strong sell” rating in a report on Saturday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of GT Biopharma in a report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has an average rating of “Sell”.

GT Biopharma Stock Down 6.2%

The stock has a market cap of $9.35 million, a P/E ratio of -0.03 and a beta of 0.88. The firm’s fifty day moving average price is $6.56 and its 200-day moving average price is $9.57.

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

Institutional Investors Weigh In On GT Biopharma

An institutional investor recently bought a new stake in GT Biopharma stock. Everhart Financial Group Inc. acquired a new stake in GT Biopharma, Inc. (NASDAQ:GTBP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company’s stock, valued at approximately $49,000. Everhart Financial Group Inc. owned 0.23% of GT Biopharma at the end of the most recent quarter. 8.15% of the stock is 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.