Global Blood Therapeutics (GBT) Shares Up 19.1%

Global Blood Therapeutics Inc (NASDAQ:GBT) shot up 19.1% on Wednesday . The stock traded as high as $48.85 and last traded at $47.15. 4,272,400 shares were traded during trading, an increase of 232% from the average session volume of 1,286,267 shares. The stock had previously closed at $39.60.

Several research firms have recently weighed in on GBT. BidaskClub lowered Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 20th. Wedbush reissued an “outperform” rating and set a $73.00 price objective on shares of Global Blood Therapeutics in a research note on Friday, December 15th. Needham & Company LLC raised their price objective on Global Blood Therapeutics from $51.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Oppenheimer set a $79.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Nomura raised their price objective on Global Blood Therapeutics to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the stock. Global Blood Therapeutics has a consensus rating of “Buy” and an average price target of $62.07.

The company has a market cap of $2,480.00 and a PE ratio of -21.75.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.04). During the same period last year, the business earned ($0.58) earnings per share. research analysts predict that Global Blood Therapeutics Inc will post -2.54 EPS for the current fiscal year.

In other news, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 138,455 shares of the company’s stock, valued at $4,520,555.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles J. Homcy sold 70,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the completion of the sale, the director now directly owns 83,328 shares of the company’s stock, valued at approximately $2,830,652.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,500 shares of company stock valued at $3,023,000. 5.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emory University acquired a new stake in Global Blood Therapeutics during the second quarter valued at $1,442,000. Citigroup Inc. boosted its position in Global Blood Therapeutics by 1,544.9% during the second quarter. Citigroup Inc. now owns 87,819 shares of the company’s stock valued at $2,402,000 after purchasing an additional 82,480 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Global Blood Therapeutics by 211.7% during the second quarter. Goldman Sachs Group Inc. now owns 317,571 shares of the company’s stock valued at $8,686,000 after purchasing an additional 215,690 shares during the last quarter. Family Management Corp acquired a new stake in Global Blood Therapeutics during the third quarter valued at $351,000. Finally, Perceptive Advisors LLC boosted its position in Global Blood Therapeutics by 8.4% during the third quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock valued at $132,399,000 after purchasing an additional 330,139 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Global Blood Therapeutics (GBT) Shares Up 19.1%” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2018/01/10/global-blood-therapeutics-gbt-shares-up-19-1.html.

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).

Receive News & Ratings for Global Blood Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit