Bank of America Corp DE increased its stake in Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 103.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,141 shares of the company’s stock after buying an additional 3,633 shares during the period. Bank of America Corp DE’s holdings in Global Blood Therapeutics were worth $263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GBT. Marcus Capital LLC raised its stake in Global Blood Therapeutics by 72.8% in the first quarter. Marcus Capital LLC now owns 52,000 shares of the company’s stock worth $1,916,000 after buying an additional 21,900 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Global Blood Therapeutics during the first quarter worth approximately $1,130,000. Ameriprise Financial Inc. acquired a new stake in Global Blood Therapeutics during the first quarter worth approximately $1,510,000. UBS Asset Management Americas Inc. acquired a new stake in Global Blood Therapeutics during the first quarter worth approximately $597,000. Finally, Swiss National Bank raised its stake in Global Blood Therapeutics by 55.5% in the first quarter. Swiss National Bank now owns 52,400 shares of the company’s stock worth $1,931,000 after buying an additional 18,700 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shares of Global Blood Therapeutics, Inc. (GBT) traded up 6.206% during trading on Thursday, hitting $30.375. 554,569 shares of the stock traded hands. Global Blood Therapeutics, Inc. has a 1-year low of $13.35 and a 1-year high of $41.15. The firm’s market capitalization is $1.33 billion. The firm has a 50-day moving average of $27.91 and a 200-day moving average of $29.56.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating 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 forecast that Global Blood Therapeutics, Inc. will post ($2.45) earnings per share for the current year.

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A number of analysts have commented on GBT shares. BidaskClub lowered shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Cowen and Company reaffirmed an “outperform” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a report on Monday, August 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $46.00 target price (up previously from $44.00) on shares of Global Blood Therapeutics in a report on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. started coverage on shares of Global Blood Therapeutics in a report on Friday, August 4th. They set an “outperform” rating and a $53.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.73.

In other news, Director Deval L. Patrick sold 27,053 shares of Global Blood Therapeutics stock in a transaction dated 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 transaction, the director now directly owns 12,053 shares in the company, valued at $357,853.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jung Choi sold 3,000 shares of Global Blood Therapeutics 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 transaction, the insider now owns 143,255 shares of the company’s stock, valued at $4,297,650. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

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).

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

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