Other equities research analysts have also issued research reports about the stock. Needham & Company LLC initiated coverage on shares of Global Blood Therapeutics in a research note on Wednesday, September 20th. They set a buy rating and a $51.00 price objective on the stock. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research note on Tuesday, October 10th. J P Morgan Chase & Co restated a buy rating on shares of Global Blood Therapeutics in a research note on Monday, October 23rd. BidaskClub upgraded shares of Global Blood Therapeutics from a hold rating to a buy rating in a research note on Wednesday, November 1st. Finally, SunTrust Banks raised their price target on shares of Global Blood Therapeutics to $67.00 and gave the company a buy rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating and thirteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $56.38.
Shares of Global Blood Therapeutics (GBT) traded up $2.25 during trading on Monday, reaching $41.70. 1,418,577 shares of the company were exchanged, compared to its average volume of 723,061. Global Blood Therapeutics has a 12-month low of $13.35 and a 12-month high of $43.95.
In other news, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the transaction, the insider now owns 140,055 shares in the company, valued at approximately $4,201,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Homcy sold 70,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $33.97, for a total transaction of $2,377,900.00. Following the completion of the sale, the director now owns 83,328 shares in the company, valued at $2,830,652.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,500 shares of company stock valued at $3,003,350. 5.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Asset Management Americas Inc. acquired a new stake in shares of Global Blood Therapeutics during the 1st quarter valued at about $597,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Global Blood Therapeutics during the 1st quarter valued at about $1,130,000. American International Group Inc. boosted its position in shares of Global Blood Therapeutics by 24.1% during the 1st quarter. American International Group Inc. now owns 10,031 shares of the company’s stock valued at $370,000 after acquiring an additional 1,945 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Global Blood Therapeutics by 426.2% during the 1st quarter. Teachers Advisors LLC now owns 156,195 shares of the company’s stock valued at $5,756,000 after acquiring an additional 126,513 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in Global Blood Therapeutics by 40.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 130,606 shares of the company’s stock valued at $4,813,000 after purchasing an additional 37,672 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.
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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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