Short Interest in GT Biopharma, Inc. (NASDAQ:GTBP) Drops By 62.4%

GT Biopharma, Inc. (NASDAQ:GTBP) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 94,200 shares, a decrease of 62.4% from the February 28th total of 250,300 shares. Based on an average daily trading volume, of 852,200 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

GTBP has been the topic of several analyst reports. Roth Mkm began coverage on GT Biopharma in a report on Monday, December 2nd. They set a “buy” rating and a $11.00 price target on the stock. Roth Capital raised shares of GT Biopharma to a “strong-buy” rating in a research note on Monday, December 2nd.

GT Biopharma Price Performance

Shares of GTBP stock traded up $0.10 during trading on Friday, hitting $2.40. 15,611 shares of the stock traded hands, compared to its average volume of 579,004. The firm has a market capitalization of $6.09 million, a P/E ratio of -0.34 and a beta of 0.59. GT Biopharma has a 52-week low of $1.72 and a 52-week high of $10.66. The firm’s fifty day moving average price is $2.29 and its 200-day moving average price is $2.50.

About GT Biopharma

GT Biopharma, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology products based on its proprietary Tri-specific Killer Engager (TriKE) fusion protein immune cell engager technology platform. It develops GTB-3550, a single-chain tri-specific recombinant fusion protein conjugate that is in Phase I clinical trial for the treatment of myelodysplastic syndromes, refractory/relapsed acute myeloid leukemia or advanced systemic mastocytosis, and CD33+ malignancies.