ValuEngine upgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a sell rating to a hold rating in a report issued on Friday, February 2nd.
Several other research analysts also recently commented on the stock. William Blair began coverage on shares of Global Blood Therapeutics in a research report on Tuesday, January 23rd. They set an outperform rating and a $80.00 price objective for the company. HC Wainwright set a $73.00 price objective on shares of Global Blood Therapeutics and gave the company a buy rating in a research report on Thursday, January 11th. BidaskClub downgraded shares of Global Blood Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, December 20th. Wedbush restated an outperform rating and set a $73.00 price objective on shares of Global Blood Therapeutics in a research report on Friday, December 15th. Finally, Needham & Company LLC boosted their price objective on shares of Global Blood Therapeutics from $51.00 to $70.00 and gave the company a buy rating in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $63.27.
Shares of Global Blood Therapeutics (NASDAQ:GBT) traded up $2.80 on Friday, reaching $59.95. 481,700 shares of the company’s stock traded hands, compared to its average volume of 1,162,485. Global Blood Therapeutics has a 1-year low of $20.25 and a 1-year high of $65.40. The firm has a market capitalization of $2,629.32, a P/E ratio of -23.51 and a beta of 4.78.
In related news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $36.55, for a total value of $109,650.00. Following the sale, the insider now owns 135,255 shares of the company’s stock, valued at $4,943,570.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Perceptive Advisors Llc acquired 175,000 shares of Global Blood Therapeutics stock in a transaction that occurred on Tuesday, December 19th. The stock was acquired at an average cost of $38.00 per share, for a total transaction of $6,650,000.00. The disclosure for this purchase can be found here. Insiders have sold 51,812 shares of company stock valued at $2,864,728 over the last quarter. Company insiders own 5.30% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Stansberry Asset Management LLC bought a new stake in Global Blood Therapeutics during the fourth quarter valued at $2,019,000. Eversept Partners LLC bought a new position in shares of Global Blood Therapeutics during the 4th quarter worth about $1,527,000. Monashee Investment Management LLC bought a new position in shares of Global Blood Therapeutics during the 4th quarter worth about $4,722,000. Citadel Advisors LLC boosted its position in shares of Global Blood Therapeutics by 161.7% during the 4th quarter. Citadel Advisors LLC now owns 716,611 shares of the company’s stock worth $28,199,000 after purchasing an additional 442,828 shares in the last quarter. Finally, HAP Trading LLC bought a new position in shares of Global Blood Therapeutics during the 4th quarter worth about $988,000. 85.95% 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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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