Short interest in GT Biopharma has collapsed 54% over the past month while cost to borrow plunged 65%. Despite easing short pressure, shares fell 18% this week to $0.31.
GTBP closed at $0.31 on April 24, down 13% on the day. The stock dropped 18% over the week and has lost 34% in the past month. The biotech trades in penny-stock territory with no current market cap data available.
Short interest stands at 539,749 shares, representing 5.1% of the free float as of April 23. That marks a sharp 20% decline from the week-ago level of 676,663 shares. The monthly view is even more dramatic — short sellers have cut positions by 54% since late March, when short interest peaked above 1.3 million shares.
The unwinding accelerated in early April. Short interest hit a recent high of 1.64 million shares on March 23, then fell steadily through the month. The April 9 reading of 1.04 million shares was the last time shorts held above 1 million shares.
Cost to borrow dropped in tandem. CTB sits at 10.5%, down 18% week-over-week and 65% below the March 12 peak of 66%. The borrowing rate has fallen every day since early March. Last comparable CTB levels were seen in mid-April at 12.1%.
Utilisation rests at 24%, well below the 52-week high of 100%. The metric has fluctuated between 16% and 31% over the past month, with no clear trend. On March 31, utilisation reached 38%.
Enterprise value registers at $4.7 million as of year-end 2026. No traditional multiples are available given the development-stage nature of the company.
Factor scores show some relative strength. The stock ranks in the 79th percentile for sector score, suggesting solid positioning within biotechnology. Days to cover sits in the 71st percentile. Short score rank of 44 places it near the middle of the distribution. Analyst recommendation differential ranks at 47, dividend score at 32, and utilisation at the 37th percentile.
Armistice Capital leads institutional holders with 314,316 shares, unchanged from the prior quarter. Bristol Capital Advisors and Five Narrow Lane LP each hold roughly 224,000 shares with no recent changes. Shenzhen Hepalink Pharmaceutical Group owns 219,457 shares.
Citadel Advisors increased its stake by 41,128 shares to 80,761 as of December 31. Scientech Research initiated a 54,745-share position in the same quarter. Jane Street opened a 26,016-share stake, while Integrated Wealth Concepts took a new 20,006-share position. Geode Capital added 9,134 shares to reach 19,258.
The most recent insider purchases date to April 2023. Acting CEO Michael Breen bought 50,000 shares at $0.50 on April 11, 2023. CFO Manu Ohri purchased 50,000 shares at $0.50 on April 6, 2023. Combined, the two executives deployed $50,000. No insider activity has been reported in nearly three years.
Roth MKM initiated coverage in December 2024 with a Buy rating and $11 price target. Analyst Jonathan Aschoff issued the recommendation. The firm's target implies 3,420% upside from current levels. Only one analyst covers the stock, with a consensus price target of $3.00.
The company is scheduled to report earnings on May 15, 2026. The prior earnings date was March 27. Previous reports came on March 2, November 20, and November 14 of 2025.
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