GT Biopharma, Inc. (NASDAQ:GTBP) shares are racing higher Monday on heavy trading volume. Here's a look at what's going on. 

What To Know:

GT Biopharma shares are moving on heavy trading volume despite a lack of company-specific news. The stock is one of the top trending tickers on Stocktwits which may point to a rally led by retail traders.

According to data from Benzinga Pro, more than 60.4 million shares have been traded in the session, far exceeding the stock’s 100-day average of less than 11,000 shares.

GT Biopharma is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products based on its TriKE NK cell engager platform. GT Biopharma has an exclusive worldwide license agreement with the University of Minnesota to further develop and commercialize therapies using TriKE technology. 

The company reported its first-quarter financial results last week with losses of $1.64 per share which beat the analyst estimate of losses of $2.70 by 39.26%.

The company had cash, cash equivalents and short-term investments of $9.81 million as of March 31, 2024 which it anticipates will provide sufficient runway to fund operations into 2025.

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Should I Sell My GTBP Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of GT Biopharma have lost 17.55% year to date. This compares to the average annual return of -80.41%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. GT Biopharma stock currently has an RSI of 43.45, indicating neutral conditions.

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GTBP Price Action: According to Benzinga Pro, GT Biopharma shares are up 147% at $7.72 at the time of publication Monday.

Image: Myriams-Fotos from Pixabay