Fernwood Investment Management LLC Increases Stock Holdings in Global Blood Therapeutics Inc (NASDAQ:GBT)

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Fernwood Investment Management LLC raised its stake in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,905 shares of the company’s stock after acquiring an additional 3,028 shares during the quarter. Global Blood Therapeutics makes up about 9.4% of Fernwood Investment Management LLC’s portfolio, making the stock its biggest position. Fernwood Investment Management LLC’s holdings in Global Blood Therapeutics were worth $17,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBT. Legal & General Group Plc raised its position in Global Blood Therapeutics by 20.6% in the 4th quarter. Legal & General Group Plc now owns 21,779 shares of the company’s stock valued at $894,000 after buying an additional 3,714 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Global Blood Therapeutics by 497.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock valued at $20,214,000 after buying an additional 409,934 shares during the last quarter. Norges Bank purchased a new stake in Global Blood Therapeutics in the 4th quarter valued at $17,826,000. Geode Capital Management LLC raised its position in Global Blood Therapeutics by 15.5% in the 4th quarter. Geode Capital Management LLC now owns 619,730 shares of the company’s stock valued at $25,439,000 after buying an additional 83,347 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Global Blood Therapeutics in the 1st quarter valued at $33,000.

GBT has been the subject of a number of analyst reports. Goldman Sachs Group reissued a “neutral” rating and issued a $75.00 price target on shares of Global Blood Therapeutics in a research report on Wednesday, May 29th. Cantor Fitzgerald set a $110.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Friday, June 14th. Cowen reissued a “buy” rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $150.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, August 8th. Finally, Oppenheimer raised their target price on Global Blood Therapeutics from $82.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Global Blood Therapeutics presently has an average rating of “Buy” and a consensus price target of $88.33.

Shares of Global Blood Therapeutics stock traded down $0.81 during trading hours on Thursday, hitting $47.33. 11,646 shares of the company’s stock traded hands, compared to its average volume of 586,890. Global Blood Therapeutics Inc has a 12-month low of $30.15 and a 12-month high of $64.94. The stock has a market capitalization of $2.86 billion, a PE ratio of -13.87 and a beta of 1.51. The stock’s fifty day moving average is $54.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.79 and a quick ratio of 16.79.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Wednesday, August 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.05). During the same quarter in the previous year, the firm earned ($0.78) earnings per share. Sell-side analysts anticipate that Global Blood Therapeutics Inc will post -3.87 earnings per share for the current fiscal year.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

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Institutional Ownership by Quarter for Global Blood Therapeutics (NASDAQ:GBT)

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