Legal & General Group Plc increased its stake in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 20.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,779 shares of the company’s stock after acquiring an additional 3,714 shares during the period. Legal & General Group Plc’s holdings in Global Blood Therapeutics were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Focused Wealth Management Inc lifted its position in Global Blood Therapeutics by 14.6% in the fourth quarter. Focused Wealth Management Inc now owns 3,140 shares of the company’s stock valued at $129,000 after purchasing an additional 400 shares during the period. Bank of Montreal Can lifted its position in Global Blood Therapeutics by 61.9% in the fourth quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock valued at $65,000 after purchasing an additional 605 shares during the period. TD Asset Management Inc. lifted its position in Global Blood Therapeutics by 1.0% in the fourth quarter. TD Asset Management Inc. now owns 62,095 shares of the company’s stock valued at $2,549,000 after purchasing an additional 634 shares during the period. Xact Kapitalforvaltning AB lifted its position in Global Blood Therapeutics by 8.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 8,544 shares of the company’s stock valued at $351,000 after purchasing an additional 700 shares during the period. Finally, Dupont Capital Management Corp lifted its position in Global Blood Therapeutics by 13.1% in the fourth quarter. Dupont Capital Management Corp now owns 8,603 shares of the company’s stock valued at $353,000 after purchasing an additional 998 shares during the period.

GBT stock opened at $55.42 on Thursday. Global Blood Therapeutics Inc has a 12-month low of $30.15 and a 12-month high of $59.95. The company has a market cap of $3.18 billion, a PE ratio of -16.25 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.05). During the same quarter in the prior year, the business posted ($0.95) EPS. Sell-side analysts anticipate that Global Blood Therapeutics Inc will post -3.9 earnings per share for the current year.

A number of brokerages recently commented on GBT. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday, April 18th. William Blair restated a “buy” rating on shares of Global Blood Therapeutics in a research report on Wednesday, January 30th. ValuEngine upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Wells Fargo & Co raised their price objective on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Monday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Global Blood Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $86.57.

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Global Blood Therapeutics Company 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.

Further Reading: Balance Sheet

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

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