GT Biopharma (NASDAQ:GTBP) Stock Price Up 18.5% – Still a Buy?

GT Biopharma, Inc. (NASDAQ:GTBP) shares traded up 18.5% during trading on Thursday. The stock traded as high as $7.40 and last traded at $7.36. 63,035 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 45,536 shares. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GTBP. Wall Street Zen cut 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 research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat, GT Biopharma has an average rating of “Sell”.

GT Biopharma Stock Up 18.5%

The company has a market capitalization of $15.16 million, a PE ratio of -0.05 and a beta of 0.86. The firm’s 50 day simple moving average is $7.08 and its 200 day simple moving average is $8.96.

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

Hedge Funds Weigh In On GT Biopharma

An institutional investor recently bought a new stake in GT Biopharma stock. 49 Wealth Management LLC acquired a new position in GT Biopharma, Inc. (NASDAQ:GTBP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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. 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 is centered on its proprietary TriKE (Tri-specific Killer Engager) platform, which is designed to activate natural killer (NK) cells, direct them toward cancer cells expressing selected tumor antigens, and support NK-cell expansion through an interleukin-15 component.

GT Biopharma’s product candidates are being developed for hematologic malignancies and potentially solid tumors.