Bessemer Group Inc. acquired a new position in shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) during the second quarter, Holdings Channel reports. The firm acquired 50,009 shares of the company’s stock, valued at approximately $1,368,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GBT. Daiwa SB Investments Ltd. acquired a new position in Global Blood Therapeutics during the first quarter valued at about $120,000. Asset Management One Co. Ltd. acquired a new position in Global Blood Therapeutics during the first quarter valued at about $130,000. Great West Life Assurance Co. Can acquired a new position in Global Blood Therapeutics during the first quarter valued at about $129,000. Legal & General Group Plc raised its position in Global Blood Therapeutics by 10.1% in the first quarter. Legal & General Group Plc now owns 4,816 shares of the company’s stock valued at $178,000 after buying an additional 440 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Global Blood Therapeutics during the first quarter valued at about $230,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Shares of Global Blood Therapeutics, Inc. (NASDAQ GBT) opened at 28.55 on Friday. The company has a 50 day moving average of $28.14 and a 200 day moving average of $28.73. Global Blood Therapeutics, Inc. has a 1-year low of $13.35 and a 1-year high of $41.15. The firm’s market cap is $1.25 billion.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Monday, August 7th. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same quarter last year, the firm posted ($0.58) EPS. On average, equities analysts forecast that Global Blood Therapeutics, Inc. will post ($2.48) earnings per share for the current fiscal year.

WARNING: “Bessemer Group Inc. Acquires Shares of 50,009 Global Blood Therapeutics, Inc. (NASDAQ:GBT)” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/bessemer-group-inc-acquires-shares-of-50009-global-blood-therapeutics-inc-nasdaqgbt/1480671.html.

Several research analysts have issued reports on the stock. BidaskClub lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. started coverage on shares of Global Blood Therapeutics in a research note on Monday, April 17th. They issued a “buy” rating and a $56.00 price objective for the company. ValuEngine lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective on shares of Global Blood Therapeutics in a research note on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. started coverage on shares of Global Blood Therapeutics in a research note on Friday, August 4th. They issued an “outperform” rating and a $53.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Global Blood Therapeutics currently has an average rating of “Buy” and a consensus target price of $50.75.

In other news, Director Deval L. Patrick sold 27,053 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total value of $803,203.57. Following the transaction, the director now directly owns 12,053 shares of the company’s stock, valued at $357,853.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the transaction, the insider now directly owns 143,255 shares in the company, valued at $4,297,650. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

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).

Want to see what other hedge funds are holding GBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Blood Therapeutics, Inc. (NASDAQ:GBT).

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

Receive News & Ratings for Global Blood Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Blood Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.