GT Biopharma (NASDAQ:GTBP) Trading 6.3% Higher – What’s Next?

GT Biopharma, Inc. (NASDAQ:GTBP)’s stock price traded up 6.3% during trading on Tuesday . The company traded as high as $3.14 and last traded at $3.14. 16,681 shares were traded during mid-day trading, a decline of 96% from the average session volume of 402,010 shares. The stock had previously closed at $2.95.

GT Biopharma Price Performance

The stock has a 50-day moving average price of $2.53 and a 200 day moving average price of $2.76.

Institutional Investors Weigh In On GT Biopharma

A hedge fund recently bought a new stake in GT Biopharma stock. DekaBank Deutsche Girozentrale purchased a new position in GT Biopharma, Inc. (NASDAQ:GTBP) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,093,645 shares of the company’s stock, valued at approximately $47,449,000. DekaBank Deutsche Girozentrale owned approximately 77.02% of GT Biopharma as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.