Global Blood Therapeutics (GBT) Trading Up -3.3%

Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) were up 3.3% during trading on Tuesday . The stock traded as high as $41.70 and last traded at $39.35. Approximately 589,500 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 1,034,251 shares. The stock had previously closed at $40.70.

Several analysts have commented on GBT shares. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Cowen reiterated a “buy” rating and issued a $83.00 price target on shares of Global Blood Therapeutics in a research note on Thursday, November 9th. Wedbush reiterated an “ourperform” rating and issued a $73.00 price target on shares of Global Blood Therapeutics in a research note on Monday, September 18th. Nomura boosted their price target on shares of Global Blood Therapeutics to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Oppenheimer set a $53.00 price target on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. Global Blood Therapeutics has an average rating of “Buy” and a consensus price target of $62.07.

The company has a market capitalization of $1,913.91, a price-to-earnings ratio of -16.61 and a beta of 4.24.

Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). During the same period in the previous year, the company posted ($0.58) EPS. research analysts predict that Global Blood Therapeutics Inc 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 business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were bought at an average cost of $38.00 per share, for a total transaction of $6,650,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $36.55, for a total transaction of $109,650.00. Following the transaction, the insider now owns 135,255 shares in the company, valued at $4,943,570.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,500 shares of company stock worth $3,023,000. Insiders own 5.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC grew its holdings in Global Blood Therapeutics by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,943 shares of the company’s stock valued at $846,000 after purchasing an additional 284 shares during the last quarter. Fiduciary Trust Co. grew its holdings in Global Blood Therapeutics by 7.8% during the 3rd quarter. Fiduciary Trust Co. now owns 23,580 shares of the company’s stock valued at $732,000 after purchasing an additional 1,701 shares during the last quarter. American International Group Inc. grew its holdings in Global Blood Therapeutics by 8.1% during the 3rd quarter. American International Group Inc. now owns 24,752 shares of the company’s stock valued at $769,000 after purchasing an additional 1,850 shares during the last quarter. Alps Advisors Inc. grew its holdings in Global Blood Therapeutics by 9.3% during the 3rd quarter. Alps Advisors Inc. now owns 43,015 shares of the company’s stock valued at $1,336,000 after purchasing an additional 3,649 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Global Blood Therapeutics by 17.5% during the 2nd quarter. ProShare Advisors LLC now owns 25,649 shares of the company’s stock valued at $702,000 after purchasing an additional 3,827 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

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Global Blood Therapeutics Company Profile

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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