Global Blood Therapeutics Inc (GBT) is Fernwood Investment Management LLC’s Largest Position

Fernwood Investment Management LLC boosted its position in Global Blood Therapeutics Inc (NASDAQ:GBT) by 7.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 383,702 shares of the company’s stock after buying an additional 27,633 shares during the period. Global Blood Therapeutics accounts for about 7.7% of Fernwood Investment Management LLC’s holdings, making the stock its largest holding. Fernwood Investment Management LLC’s holdings in Global Blood Therapeutics were worth $14,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new stake in Global Blood Therapeutics in the third quarter valued at about $104,000. Tiverton Asset Management LLC bought a new stake in Global Blood Therapeutics in the second quarter valued at about $166,000. PNC Financial Services Group Inc. increased its holdings in Global Blood Therapeutics by 740.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,353 shares of the company’s stock valued at $165,000 after buying an additional 3,835 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Global Blood Therapeutics in the second quarter valued at about $203,000. Finally, Great West Life Assurance Co. Can increased its holdings in Global Blood Therapeutics by 42.0% in the second quarter. Great West Life Assurance Co. Can now owns 4,969 shares of the company’s stock valued at $224,000 after buying an additional 1,469 shares during the last quarter.

Shares of GBT stock opened at $31.54 on Monday. Global Blood Therapeutics Inc has a 52 week low of $30.15 and a 52 week high of $68.05. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -11.43 and a beta of 3.67.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.02. During the same period last year, the company earned ($0.66) EPS. Equities research analysts predict that Global Blood Therapeutics Inc will post -3.36 EPS for the current year.

Several analysts recently weighed in on the company. BidaskClub raised Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. ValuEngine upgraded Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 18th. HC Wainwright set a $125.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Wednesday, November 28th. Piper Jaffray Companies began coverage on Global Blood Therapeutics in a research note on Monday, August 6th. They issued an “overweight” rating and a $80.00 target price for the company. Finally, Cantor Fitzgerald set a $96.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and an average price target of $80.20.

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Global Blood Therapeutics Profile

Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.

Further Reading: Bond

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

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