Global Blood Therapeutics, Inc. (GBT) Cut to “Sell” at BidaskClub
Global Blood Therapeutics, Inc. (NASDAQ:GBT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other research analysts have also recently commented on the stock. Cowen and Company reissued an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a research report on Monday, August 14th. J P Morgan Chase & Co reissued an “overweight” rating and set a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. began coverage on shares of Global Blood Therapeutics in a research report on Friday, August 4th. They set an “outperform” rating and a $53.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. Finally, ValuEngine raised shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.73.
Global Blood Therapeutics (GBT) traded up 6.06% on Thursday, hitting $28.00. 1,684,553 shares of the company were exchanged. Global Blood Therapeutics has a 52-week low of $13.35 and a 52-week high of $41.15. The stock’s market cap is $1.22 billion. The firm has a 50 day moving average of $27.76 and a 200-day moving average of $30.02.
Global Blood Therapeutics (NASDAQ:GBT) last posted its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.06. During the same quarter last year, the firm earned ($0.58) EPS. On average, equities analysts expect that Global Blood Therapeutics will post ($2.45) earnings per share for the current fiscal year.
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In other Global Blood Therapeutics news, Director Deval L. Patrick sold 27,053 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the completion of the sale, the director now owns 12,053 shares in the company, valued at $357,853.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jung Choi sold 3,000 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the sale, the insider now owns 143,255 shares of the company’s stock, valued at approximately $4,297,650. The disclosure for this sale can be found here. Insiders sold 33,053 shares of company stock worth $983,204 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in GBT. BlackRock Inc. increased its stake in Global Blood Therapeutics by 4,675.5% during the first quarter. BlackRock Inc. now owns 2,618,847 shares of the company’s stock valued at $96,503,000 after purchasing an additional 2,564,008 shares during the last quarter. State Street Corp increased its stake in Global Blood Therapeutics by 217.9% during the second 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 during the last quarter. White Square Capital LLP bought a new stake in Global Blood Therapeutics during the first quarter valued at $53,593,000. Janus Henderson Group PLC bought a new stake in Global Blood Therapeutics during the second quarter valued at $26,919,000. Finally, Perceptive Advisors LLC increased its stake in Global Blood Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,858,978 shares of the company’s stock valued at $142,203,000 after purchasing an additional 730,000 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.
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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