Cubist Systematic Strategies LLC Sells 1,686 Shares of Global Blood Therapeutics Inc (GBT)
Cubist Systematic Strategies LLC cut its holdings in Global Blood Therapeutics Inc (NASDAQ:GBT) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,519 shares of the company’s stock after selling 1,686 shares during the period. Cubist Systematic Strategies LLC’s holdings in Global Blood Therapeutics were worth $202,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Emory University purchased a new position in shares of Global Blood Therapeutics in the second quarter valued at about $1,442,000. Citigroup Inc. increased its position in shares of Global Blood Therapeutics by 1,544.9% in the second quarter. Citigroup Inc. now owns 87,819 shares of the company’s stock valued at $2,402,000 after acquiring an additional 82,480 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Global Blood Therapeutics by 211.7% in the second quarter. Goldman Sachs Group Inc. now owns 317,571 shares of the company’s stock valued at $8,686,000 after acquiring an additional 215,690 shares during the period. Family Management Corp purchased a new position in shares of Global Blood Therapeutics in the third quarter valued at about $351,000. Finally, Perceptive Advisors LLC increased its position in shares of Global Blood Therapeutics by 8.4% in the third quarter. Perceptive Advisors LLC now owns 4,264,066 shares of the company’s stock valued at $132,399,000 after acquiring an additional 330,139 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on GBT shares. Morgan Stanley restated an “overweight” rating and issued a $56.00 price objective (up previously from $51.00) on shares of Global Blood Therapeutics in a research report on Friday, October 6th. BidaskClub cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Needham & Company LLC set a $51.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research cut shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, HC Wainwright set a $73.00 price target on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. Global Blood Therapeutics currently has an average rating of “Buy” and an average target price of $62.07.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.04). During the same quarter in the prior year, the firm posted ($0.58) EPS. analysts expect that Global Blood Therapeutics Inc will post -2.54 earnings per share for the current fiscal year.
In other Global Blood Therapeutics news, Director Charles J. Homcy sold 70,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $33.97, for a total value of $2,377,900.00. Following the sale, the director now owns 83,328 shares in the company, valued at $2,830,652.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.65, for a total transaction of $97,950.00. Following the completion of the sale, the insider now owns 138,455 shares in the company, valued at approximately $4,520,555.75. The disclosure for this sale can be found here. Insiders have sold 103,500 shares of company stock worth $3,773,000 in the last quarter. 5.30% of the stock is owned by corporate insiders.
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Global Blood Therapeutics 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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