GBT has been the subject of several other reports. Morgan Stanley reiterated an overweight rating and set a $56.00 price target (up from $51.00) on shares of Global Blood Therapeutics in a research report on Friday, October 6th. BidaskClub cut Global Blood Therapeutics from a hold rating to a sell rating in a research report on Thursday, September 14th. Zacks Investment Research cut Global Blood Therapeutics from a buy rating to a hold rating in a report on Monday, October 16th. Oppenheimer Holdings, Inc. set a $53.00 target price on Global Blood Therapeutics and gave the company a buy rating in a report on Wednesday, October 11th. Finally, J P Morgan Chase & Co restated an overweight rating and issued a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Global Blood Therapeutics has an average rating of Buy and an average price target of $55.00.
Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $0.15 on Wednesday, hitting $41.70. The company had a trading volume of 542,019 shares, compared to its average volume of 1,164,463. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $43.95.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same period in the previous year, the firm posted ($0.58) earnings per share. analysts predict that Global Blood Therapeutics will post -2.42 EPS for the current fiscal year.
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In other news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.00, for a total value of $90,000.00. Following the transaction, the insider now owns 141,655 shares of the company’s stock, valued at approximately $4,249,650. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the transaction, the director now directly owns 83,328 shares in the company, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,500 shares of company stock worth $3,093,350. Corporate insiders own 5.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Global Blood Therapeutics by 30.0% during the 2nd quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock worth $93,114,000 after acquiring an additional 785,691 shares in the last quarter. Vanguard Group Inc. lifted its stake in Global Blood Therapeutics by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock worth $80,224,000 after acquiring an additional 397,271 shares in the last quarter. State Street Corp lifted its stake in Global Blood Therapeutics by 217.9% during the 2nd quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after acquiring an additional 1,465,595 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Global Blood Therapeutics during the 2nd quarter worth about $26,919,000. Finally, Sectoral Asset Management Inc lifted its stake in Global Blood Therapeutics by 31.0% during the 2nd quarter. Sectoral Asset Management Inc now owns 452,781 shares of the company’s stock worth $12,384,000 after acquiring an additional 107,199 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).
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