Zacks Investment Research Lowers GT Biopharma (OTCMKTS:GTBP) to Hold

Zacks Investment Research downgraded shares of GT Biopharma (OTCMKTS:GTBP) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “GT Biopharma Inc. is an immuno-oncology company. It discovers, develops and commercializes drugs of therapeutic molecules for the treatment of cancer, myeloma, osteolytic lesions and other unmet medical needs. GT Biopharma Inc., formerly known as OXIS International Inc., is based in Tampa, Florida. “

Several other equities analysts have also recently weighed in on GTBP. B. Riley reiterated a buy rating and issued a $26.00 price objective (up previously from $21.00) on shares of GT Biopharma in a research note on Thursday, June 24th. HC Wainwright reiterated a buy rating and issued a $25.00 price objective on shares of GT Biopharma in a research note on Tuesday, September 14th.

Shares of GTBP stock opened at $7.34 on Friday. GT Biopharma has a one year low of $2.55 and a one year high of $19.73. The company’s 50-day moving average is $9.79 and its 200 day moving average is $11.44. The company has a market capitalization of $155.08 million, a price-to-earnings ratio of -1.14 and a beta of 0.34.

GT Biopharma (OTCMKTS:GTBP) last announced its quarterly earnings data on Monday, August 23rd. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.13. As a group, analysts anticipate that GT Biopharma will post -1.57 EPS for the current year.

Several hedge funds have recently bought and sold shares of GTBP. UBS Group AG purchased a new position in shares of GT Biopharma in the first quarter valued at $27,000. Ameritas Investment Partners Inc. purchased a new position in shares of GT Biopharma in the second quarter valued at $29,000. Legal & General Group Plc purchased a new position in shares of GT Biopharma in the second quarter valued at $39,000. Advisor Group Holdings Inc. grew its holdings in shares of GT Biopharma by 108.3% in the second quarter. Advisor Group Holdings Inc. now owns 2,943 shares of the company’s stock valued at $45,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Citigroup Inc. bought a new stake in GT Biopharma in the second quarter worth $95,000. 21.37% of the stock is owned by hedge funds and other institutional investors.

About GT Biopharma

GT Biopharma, Inc is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products based proprietary TriKE NK cell engager platform. The TriKE platform is designed to harness and enhance the cancer killing abilities of a patient’s immune system natural killer cells (NK cells).

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