Shares of Global Blood Therapeutics Inc (NASDAQ:GBT) were down 5.1% during trading on Monday following insider selling activity. The company traded as low as $57.25 and last traded at $57.72. Approximately 746,681 shares were traded during trading, a decline of 41% from the average daily volume of 1,257,703 shares. The stock had previously closed at $60.80.
Specifically, insider Jung Choi sold 3,000 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Perceptive Advisors Llc purchased 175,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was purchased at an average price of $38.00 per share, for a total transaction of $6,650,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 51,812 shares of company stock worth $2,864,728. Corporate insiders own 5.30% of the company’s stock.
Several research analysts have issued reports on GBT shares. Zacks Investment Research upgraded Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Cowen restated a “buy” rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a report on Thursday, November 9th. Wedbush restated an “outperform” rating and issued a $73.00 target price on shares of Global Blood Therapeutics in a report on Friday, December 15th. Nomura raised their target price on Global Blood Therapeutics to $91.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Oppenheimer set a $79.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Global Blood Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $63.27.
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 the Zacks’ consensus estimate of ($0.62) by ($0.04). During the same quarter in the prior year, the company posted ($0.58) earnings per share. equities research analysts predict that Global Blood Therapeutics Inc will post -2.53 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of GBT. Jane Street Group LLC purchased a new stake in shares of Global Blood Therapeutics during the third quarter valued at approximately $200,000. Trexquant Investment LP purchased a new stake in shares of Global Blood Therapeutics during the third quarter valued at approximately $202,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Global Blood Therapeutics during the third quarter valued at approximately $205,000. Virtu KCG Holdings LLC purchased a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $219,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Global Blood Therapeutics by 94.7% during the second quarter. Cubist Systematic Strategies LLC now owns 8,205 shares of the company’s stock valued at $224,000 after acquiring an additional 3,991 shares during the last quarter. 85.67% of the stock is owned by institutional investors.
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).
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