BlackRock Inc. lifted its position in Global Blood Therapeutics Inc (NASDAQ:GBT) by 27.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,142,762 shares of the company’s stock after buying an additional 898,162 shares during the quarter. BlackRock Inc. owned 0.08% of Global Blood Therapeutics worth $187,252,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. acquired a new position in Global Blood Therapeutics during the 1st quarter worth $30,023,000. BNP Paribas Arbitrage SA grew its stake in Global Blood Therapeutics by 1,718.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 139,951 shares of the company’s stock worth $6,760,000 after purchasing an additional 132,253 shares in the last quarter. Royal Bank of Canada grew its stake in Global Blood Therapeutics by 195.0% during the 1st quarter. Royal Bank of Canada now owns 175,113 shares of the company’s stock worth $8,458,000 after purchasing an additional 115,746 shares in the last quarter. UBS Group AG grew its stake in Global Blood Therapeutics by 262.3% during the 1st quarter. UBS Group AG now owns 136,394 shares of the company’s stock worth $6,588,000 after purchasing an additional 98,751 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Global Blood Therapeutics by 935.8% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,300 shares of the company’s stock worth $3,268,000 after purchasing an additional 65,320 shares in the last quarter. Hedge funds and other institutional investors own 98.79% of the company’s stock.

Several research analysts recently commented on the company. Wells Fargo & Co boosted their target price on Global Blood Therapeutics from $78.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 27th. HC Wainwright boosted their target price on Global Blood Therapeutics from $73.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, June 27th. BidaskClub raised Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 8th. SunTrust Banks set a $70.00 target price on Global Blood Therapeutics and gave the stock a “buy” rating in a research note on Sunday, August 5th. Finally, Piper Jaffray Companies assumed coverage on Global Blood Therapeutics in a research note on Monday, August 6th. They set an “overweight” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $80.53.

In other news, Director Deval L. Patrick sold 42,379 shares of the company’s stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $43.40, for a total transaction of $1,839,248.60. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $651,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lesley Ann Calhoun sold 3,295 shares of the company’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $44.19, for a total value of $145,606.05. Following the transaction, the insider now directly owns 1,388 shares of the company’s stock, valued at $61,335.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,678 shares of company stock valued at $2,128,844. Insiders own 4.40% of the company’s stock.

NASDAQ:GBT opened at $40.70 on Wednesday. The stock has a market cap of $2.07 billion, a PE ratio of -14.75 and a beta of 4.26. Global Blood Therapeutics Inc has a 1 year low of $27.55 and a 1 year high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Thursday, August 2nd. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.09. During the same period last year, the firm earned ($0.55) EPS. equities research analysts predict that Global Blood Therapeutics Inc will post -3.38 earnings per share for the current year.

Global Blood Therapeutics Profile

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.

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

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