TIAA CREF Investment Management LLC Has $6.98 Million Stake in Global Blood Therapeutics, Inc. (GBT)

TIAA CREF Investment Management LLC increased its stake in Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 95.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,045 shares of the company’s stock after acquiring an additional 124,439 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.58% of Global Blood Therapeutics worth $6,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. purchased a new position in Global Blood Therapeutics in the first quarter valued at $130,000. Great West Life Assurance Co. Can purchased a new position in Global Blood Therapeutics in the first quarter valued at $129,000. BNP Paribas Arbitrage SA increased its holdings in Global Blood Therapeutics by 694.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after buying an additional 3,975 shares during the last quarter. Legal & General Group Plc increased its holdings in Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Global Blood Therapeutics in the first quarter valued at $230,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

In related news, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 143,255 shares of the company’s stock, valued at approximately $4,297,650. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Deval L. Patrick sold 27,053 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the sale, the director now directly owns 12,053 shares of the company’s stock, valued at approximately $357,853.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,053 shares of company stock valued at $1,073,204. Insiders own 5.30% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research raised Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday. Oppenheimer Holdings, Inc. set a $53.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $56.00 target price (up previously from $51.00) on shares of Global Blood Therapeutics in a report on Friday, October 6th. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Cowen and Company reissued an “outperform” rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Global Blood Therapeutics has an average rating of “Buy” and an average target price of $54.08.

Global Blood Therapeutics, Inc. (NASDAQ:GBT) opened at 33.20 on Thursday. Global Blood Therapeutics, Inc. has a one year low of $13.35 and a one year high of $41.15. The firm’s 50 day moving average price is $29.08 and its 200 day moving average price is $29.44. The stock’s market cap is $1.45 billion.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.06. During the same quarter in the prior year, the company posted ($0.58) EPS. Equities analysts forecast that Global Blood Therapeutics, Inc. will post ($2.44) earnings per share for the current year.

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Global Blood Therapeutics 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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Institutional Ownership by Quarter for Global Blood Therapeutics (NASDAQ:GBT)

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