Global Blood Therapeutics Inc (GBT) Short Interest Update

Global Blood Therapeutics Inc (NASDAQ:GBT) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 9,215,242 shares, an increase of 35.9% from the October 15th total of 6,781,123 shares. Based on an average daily trading volume, of 1,368,800 shares, the days-to-cover ratio is presently 6.7 days. Approximately 18.5% of the shares of the company are sold short.

In related news, insider Lesley Ann Calhoun sold 2,004 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $49.89, for a total value of $99,979.56. Following the transaction, the insider now owns 1,342 shares of the company’s stock, valued at $66,952.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Tiverton Asset Management LLC bought a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $166,000. PNC Financial Services Group Inc. raised its position in shares of Global Blood Therapeutics by 740.3% during 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 shares of Global Blood Therapeutics during the second quarter valued at approximately $203,000. Great West Life Assurance Co. Can raised its position in shares of Global Blood Therapeutics by 42.0% during 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. Finally, Federated Investors Inc. PA bought a new stake in shares of Global Blood Therapeutics during the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Shares of NASDAQ:GBT opened at $39.89 on Friday. Global Blood Therapeutics has a 1-year low of $31.50 and a 1-year high of $68.05. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -14.45 and a beta of 3.70.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.02. During the same quarter in the prior year, the firm posted ($0.66) EPS. As a group, equities research analysts forecast that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.

Several brokerages have weighed in on GBT. Cantor Fitzgerald set a $96.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Thursday, August 23rd. HC Wainwright set a $125.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Monday, November 5th. ValuEngine raised shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, SunTrust Banks set a $70.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a report on Sunday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $80.20.

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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.

Further Reading: Earnings Per Share

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