Global Blood Therapeutics (GBT) Upgraded to “Hold” at ValuEngine
Global Blood Therapeutics (NASDAQ:GBT) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
Several other analysts have also weighed in on the company. Oppenheimer set a $53.00 price objective on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Monday, October 23rd. BidaskClub raised Global Blood Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. William Blair assumed coverage on Global Blood Therapeutics in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, SunTrust Banks raised their price objective on Global Blood Therapeutics to $67.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $63.27.
Global Blood Therapeutics (NASDAQ GBT) opened at $59.60 on Friday. Global Blood Therapeutics has a 12-month low of $15.70 and a 12-month high of $64.50. The company has a market capitalization of $2,740.00 and a price-to-earnings ratio of -23.37.
In other news, insider Peter Radovich sold 30,000 shares of Global Blood Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $60.00, for a total transaction of $1,800,000.00. Following the sale, the insider now directly owns 33,581 shares of the company’s stock, valued at $2,014,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $36.55, for a total value of $109,650.00. Following the sale, the insider now directly owns 135,255 shares in the company, valued at $4,943,570.25. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock worth $2,818,200 over the last three months. Insiders own 5.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $200,000. Trexquant Investment LP acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $202,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Global Blood Therapeutics during the third quarter valued at about $205,000. Virtu KCG Holdings LLC acquired a new stake in shares of Global Blood Therapeutics during the second quarter valued at about $219,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Global Blood Therapeutics by 94.7% during the second quarter. Cubist Systematic Strategies LLC now owns 8,205 shares of the company’s stock valued at $224,000 after purchasing an additional 3,991 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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