GT Biopharma (OTCMKTS:GTBP) Raised to “Buy” at Zacks Investment Research

GT Biopharma (OTCMKTS:GTBPGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, reports. The firm presently has a $3.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 15.38% from the company’s previous close.

According to Zacks, “GT Biopharma Inc. is an immuno-oncology company. It discovers, develops and commercializes drugs of therapeutic molecules for the treatment of cancer, myeloma, osteolytic lesions and other unmet medical needs. GT Biopharma Inc., formerly known as OXIS International Inc., is based in Tampa, Florida. “

Separately, B. Riley dropped their price objective on shares of GT Biopharma from $26.00 to $18.00 in a report on Monday, January 24th.

Shares of GTBP traded down $0.01 during trading hours on Tuesday, reaching $2.60. 167,080 shares of the company traded hands, compared to its average volume of 161,094. The stock has a market capitalization of $79.30 million, a P/E ratio of -2.57 and a beta of 0.59. GT Biopharma has a 12-month low of $1.51 and a 12-month high of $19.73. The business has a fifty day moving average price of $2.45 and a 200-day moving average price of $3.08.

GT Biopharma (OTCMKTS:GTBPGet Rating) last announced its quarterly earnings data on Monday, May 16th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. On average, analysts anticipate that GT Biopharma will post -1.06 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GTBP. Russell Investments Group Ltd. acquired a new position in shares of GT Biopharma in the third quarter worth about $64,000. Two Sigma Investments LP acquired a new position in shares of GT Biopharma in the third quarter worth about $1,097,000. Brighton Jones LLC acquired a new position in shares of GT Biopharma in the fourth quarter worth about $34,000. Two Sigma Advisers LP raised its position in shares of GT Biopharma by 243.0% in the third quarter. Two Sigma Advisers LP now owns 51,100 shares of the company’s stock worth $344,000 after acquiring an additional 36,200 shares during the period. Finally, Sigma Planning Corp acquired a new position in shares of GT Biopharma in the first quarter worth about $62,000. Institutional investors own 18.07% of the company’s stock.

About GT Biopharma (Get Rating)

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/II clinical trial for the treatment of myelodysplastic syndromes, refractory/relapsed acute myeloid leukemia or advanced systemic mastocytosis, and CD33+ malignancies.

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