Schwab Charles Investment Management Inc. increased its holdings in Global Blood Therapeutics Inc (NASDAQ:GBT) by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,105 shares of the company’s stock after purchasing an additional 36,661 shares during the period. Schwab Charles Investment Management Inc. owned 0.41% of Global Blood Therapeutics worth $10,293,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GBT. Hanseatic Management Services Inc. bought a new stake in Global Blood Therapeutics in the 1st quarter worth approximately $170,000. Princeton Capital Management LLC bought a new stake in Global Blood Therapeutics in the 1st quarter worth approximately $193,000. Xact Kapitalforvaltning AB bought a new stake in Global Blood Therapeutics in the 4th quarter worth approximately $202,000. Oppenheimer & Co. Inc. bought a new stake in Global Blood Therapeutics in the 1st quarter worth approximately $215,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Global Blood Therapeutics by 5,980.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,080 shares of the company’s stock worth $239,000 after acquiring an additional 5,980 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on GBT. BidaskClub downgraded Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. HC Wainwright set a $73.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 24th. Cantor Fitzgerald set a $69.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, May 9th. Morgan Stanley downgraded Global Blood Therapeutics from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a research note on Wednesday, March 21st. Finally, Oppenheimer reduced their price objective on Global Blood Therapeutics from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.62.
NASDAQ GBT opened at $47.55 on Thursday. The company has a market cap of $2.37 billion, a PE ratio of -17.23 and a beta of 4.40. Global Blood Therapeutics Inc has a fifty-two week low of $24.02 and a fifty-two week high of $68.05.
Global Blood Therapeutics (NASDAQ:GBT) last released its earnings results on Monday, May 7th. The company reported ($0.87) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.04. During the same period in the prior year, the company posted ($0.60) EPS. analysts forecast that Global Blood Therapeutics Inc will post -3.63 earnings per share for the current year.
In other news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $54.15, for a total transaction of $162,450.00. Following the transaction, the insider now owns 139,277 shares of the company’s stock, valued at approximately $7,541,849.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 9,000 shares of company stock worth $443,700. Corporate insiders own 4.40% of the company’s stock.
Global Blood Therapeutics Profile
Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase III clinical trials in adult and adolescent patients with sickle cell disease (SCD).
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