Pictet Asset Management Ltd. Sells 31,528 Shares of Global Blood Therapeutics Inc (NASDAQ:GBT)

Pictet Asset Management Ltd. lowered its position in Global Blood Therapeutics Inc (NASDAQ:GBT) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 438,857 shares of the company’s stock after selling 31,528 shares during the period. Pictet Asset Management Ltd. owned 0.73% of Global Blood Therapeutics worth $23,084,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Taylor Wealth Management Partners raised its stake in shares of Global Blood Therapeutics by 0.5% in the second quarter. Taylor Wealth Management Partners now owns 44,801 shares of the company’s stock valued at $2,357,000 after acquiring an additional 217 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Global Blood Therapeutics by 1.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,279 shares of the company’s stock worth $1,338,000 after purchasing an additional 310 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Global Blood Therapeutics by 17.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock worth $172,000 after purchasing an additional 482 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Global Blood Therapeutics in the 2nd quarter worth approximately $27,000. Finally, Prudential Financial Inc. raised its position in Global Blood Therapeutics by 11.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,623 shares of the company’s stock worth $296,000 after purchasing an additional 560 shares during the last quarter. Institutional investors own 97.99% of the company’s stock.

GBT has been the subject of several research analyst reports. Cantor Fitzgerald set a $110.00 price objective on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Friday, June 14th. HC Wainwright set a $150.00 price objective on shares of Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Friday, September 6th. Wedbush restated a “buy” rating and issued a $120.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday. Morgan Stanley set a $60.00 price objective on shares of Global Blood Therapeutics and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Global Blood Therapeutics in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Global Blood Therapeutics presently has an average rating of “Buy” and a consensus price target of $89.75.

Shares of Global Blood Therapeutics stock traded down $0.17 on Friday, hitting $54.14. 13,303 shares of the company’s stock traded hands, compared to its average volume of 883,383. The firm’s 50-day moving average price is $49.97 and its two-hundred day moving average price is $54.43. The stock has a market capitalization of $3.25 billion, a PE ratio of -15.93 and a beta of 1.58. Global Blood Therapeutics Inc has a one year low of $30.15 and a one year high of $64.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.79 and a quick ratio of 16.79.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Wednesday, August 7th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.05). During the same quarter in the prior year, the company posted ($0.78) EPS. On average, analysts forecast that Global Blood Therapeutics Inc will post -3.98 earnings per share for the current fiscal year.

About Global Blood Therapeutics

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.

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

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