GT Biopharma (NASDAQ:GTBP) Trading Up 6.3% – Should You Buy?

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

GT Biopharma Stock Performance

The company’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $2.75.

Institutional Inflows and Outflows

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

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.