Global Blood Therapeutics (NASDAQ:GBT) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, December 20th.
Several other equities analysts have also recently issued reports on GBT. Needham & Company LLC set a $51.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 24th. Oppenheimer set a $53.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research cut Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. HC Wainwright set a $73.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $56.00 price target (up previously from $51.00) on shares of Global Blood Therapeutics in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Global Blood Therapeutics currently has an average rating of “Buy” and a consensus price target of $62.07.
Global Blood Therapeutics (NASDAQ GBT) traded up $1.00 during trading on Wednesday, hitting $56.45. The stock had a trading volume of 2,643,296 shares, compared to its average volume of 1,520,000. Global Blood Therapeutics has a fifty-two week low of $14.70 and a fifty-two week high of $57.75. The stock has a market cap of $2,600.00 and a P/E ratio of -22.14.
Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same quarter in the previous year, the business posted ($0.58) earnings per share. equities research analysts predict that Global Blood Therapeutics will post -2.54 earnings per share for the current year.
In other news, major shareholder Perceptive Advisors Llc purchased 175,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average price of $38.00 per share, with a total value of $6,650,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total value of $97,950.00. Following the sale, the insider now directly owns 138,455 shares in the company, valued at approximately $4,520,555.75. The disclosure for this sale can be found here. Insiders have sold a total of 88,500 shares of company stock worth $3,023,000 in the last quarter. 5.30% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in GBT. BNP Paribas Arbitrage SA boosted its stake in shares of Global Blood Therapeutics by 694.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock worth $124,000 after acquiring an additional 3,975 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Global Blood Therapeutics during the 3rd quarter worth approximately $200,000. Trexquant Investment LP purchased a new stake in shares of Global Blood Therapeutics during the 3rd quarter worth approximately $202,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Global Blood Therapeutics during the 3rd quarter worth approximately $205,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Global Blood Therapeutics during the 2nd quarter worth approximately $211,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.
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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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