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

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

Wall Street Analysts Forecast Growth

GTBP has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GT Biopharma in a report on Friday, October 2nd. Wall Street Zen lowered shares of GT Biopharma to a “strong sell” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

GT Biopharma Trading Down 6.2%

The stock has a fifty day moving average of $6.56 and a two-hundred day moving average of $9.57. The company has a market capitalization of $9.35 million, a PE ratio of -0.03 and a beta of 0.88.

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). Equities analysts forecast that GT Biopharma, Inc. will post -10.75 EPS for the current year.

Institutional Investors Weigh In On GT Biopharma

A hedge fund recently bought a new position in GT Biopharma stock. 49 Wealth Management LLC bought a new position in GT Biopharma, Inc. (NASDAQ:GTBP) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 64,000 shares of the company’s stock, valued at approximately $31,000. 49 Wealth Management LLC owned 0.14% of GT Biopharma as of its most recent SEC filing. 8.15% of the stock is currently owned by institutional investors.

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.