GT Biopharma (NASDAQ:GTBP) Shares Up 6.3% – Here’s What Happened

GT Biopharma, Inc. (NASDAQ:GTBP)’s share price traded up 6.3% during mid-day trading on Tuesday . The stock traded as high as $3.14 and last traded at $3.14. 16,681 shares changed hands 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 Stock Performance

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

Institutional Inflows and Outflows

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) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 reporting period. 8.15% of the stock is owned by 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.