Global Blood Therapeutics (GBT) Shares Up -1.2%

Global Blood Therapeutics Inc (NASDAQ:GBT) shares shot up 1.2% during mid-day trading on Thursday . The stock traded as high as $63.65 and last traded at $60.70. 550,249 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 1,205,875 shares. The stock had previously closed at $61.45.

Several brokerages have recently issued reports on GBT. Oppenheimer set a $53.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Monday, October 23rd. BidaskClub upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. ValuEngine cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. 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. Finally, William Blair started coverage on shares of Global Blood Therapeutics in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $80.00 price target for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.27.

Global Blood Therapeutics (NASDAQ:GBT) last announced 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 period in the prior year, the firm posted ($0.58) EPS. equities research analysts predict that Global Blood Therapeutics Inc will post -2.53 EPS for the current fiscal year.

In other Global Blood Therapeutics news, insider Peter Radovich sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $60.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the insider now owns 33,581 shares in the company, valued at approximately $2,014,860. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was 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 of the company’s stock, valued at approximately $4,943,570.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,812 shares of company stock valued at $2,864,728. 5.30% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Global Blood Therapeutics by 217.9% in the 2nd quarter. State Street Corp now owns 2,138,323 shares of the company’s stock valued at $58,479,000 after purchasing an additional 1,465,595 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Global Blood Therapeutics by 189.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock valued at $62,805,000 after purchasing an additional 1,323,934 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Global Blood Therapeutics in the 2nd quarter valued at about $26,919,000. BlackRock Inc. increased its holdings in shares of Global Blood Therapeutics by 30.0% in the 2nd quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock valued at $93,114,000 after purchasing an additional 785,691 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Global Blood Therapeutics by 15.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock valued at $80,224,000 after purchasing an additional 397,271 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.

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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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