Short Interest in GT Biopharma, Inc. (NASDAQ:GTBP) Rises By 556.9%

GT Biopharma, Inc. (NASDAQ:GTBP) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 90,000 shares, an increase of 556.9% from the December 31st total of 13,700 shares. Based on an average trading volume of 365,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 4.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently commented on GTBP. Roth Capital upgraded GT Biopharma to a “strong-buy” rating in a research report on Monday, December 2nd. Roth Mkm initiated coverage on shares of GT Biopharma in a research note on Monday, December 2nd. They set a “buy” rating and a $11.00 price target on the stock.

GT Biopharma Stock Performance

GT Biopharma stock traded up $0.06 during mid-day trading on Tuesday, hitting $2.10. The company’s stock had a trading volume of 59,287 shares, compared to its average volume of 282,899. The business has a 50 day moving average price of $2.68 and a 200-day moving average price of $2.53. GT Biopharma has a 12 month low of $1.72 and a 12 month high of $10.66.

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.