Global Blood Therapeutics (GBT) Sees Unusually-High Trading Volume

Global Blood Therapeutics Inc (NASDAQ:GBT) shares saw an uptick in trading volume on Tuesday . 4,271,055 shares changed hands during mid-day trading, an increase of 232% from the previous session’s volume of 1,285,814 shares.The stock last traded at $47.15 and had previously closed at $39.60.

Several brokerages have commented on GBT. HC Wainwright set a $73.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald set a $61.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, December 11th. Nomura raised their price target on shares of Global Blood Therapeutics to $91.00 and gave the company a “buy” rating in a research note on Monday, December 11th. BidaskClub upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. Finally, Oppenheimer set a $79.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. Global Blood Therapeutics has an average rating of “Buy” and an average price target of $62.07.

The firm has a market capitalization of $2,550.00 and a P/E ratio of -21.75.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same quarter last year, the business posted ($0.58) EPS. equities analysts expect that Global Blood Therapeutics Inc will post -2.54 earnings per share for the current year.

In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction that occurred 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 transaction, the insider now owns 135,255 shares in the company, valued at $4,943,570.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Peter Radovich sold 12,500 shares of Global Blood Therapeutics stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the vice president now owns 2,684 shares in the company, valued at approximately $93,940. The disclosure for this sale can be found here. Insiders have sold 88,500 shares of company stock worth $3,023,000 in the last quarter. Company insiders own 5.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GBT. Schwab Charles Investment Management Inc. grew its position in Global Blood Therapeutics by 35.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 149,634 shares of the company’s stock worth $4,093,000 after buying an additional 38,829 shares during the last quarter. Rhumbline Advisers grew its position in Global Blood Therapeutics by 118.5% in the second quarter. Rhumbline Advisers now owns 41,801 shares of the company’s stock worth $1,143,000 after buying an additional 22,670 shares during the last quarter. SG Americas Securities LLC boosted its stake in Global Blood Therapeutics by 93.9% in the 2nd quarter. SG Americas Securities LLC now owns 8,288 shares of the company’s stock worth $227,000 after purchasing an additional 4,014 shares during the period. Bank of New York Mellon Corp boosted its stake in Global Blood Therapeutics by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,173 shares of the company’s stock worth $5,037,000 after purchasing an additional 44,784 shares during the period. Finally, Legal & General Group Plc boosted its stake in Global Blood Therapeutics by 93.4% in the 2nd quarter. Legal & General Group Plc now owns 9,315 shares of the company’s stock worth $256,000 after purchasing an additional 4,499 shares during the period. Hedge funds and other 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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