Prudential Financial Inc. raised its holdings in shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 46.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,995 shares of the company’s stock after acquiring an additional 34,749 shares during the quarter. Prudential Financial Inc. owned about 0.25% of Global Blood Therapeutics worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. University of Texas Investment Managment Co. bought a new stake in Global Blood Therapeutics during the 2nd quarter valued at $487,000. BNP Paribas Arbitrage SA raised its holdings in Global Blood Therapeutics by 694.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the company’s stock valued at $124,000 after acquiring an additional 3,975 shares during the period. Fernwood Investment Management LLC raised its holdings in Global Blood Therapeutics by 7.2% during the 2nd quarter. Fernwood Investment Management LLC now owns 281,457 shares of the company’s stock valued at $7,698,000 after acquiring an additional 18,947 shares during the period. Legal & General Group Plc raised its holdings in Global Blood Therapeutics by 93.4% during the 2nd quarter. Legal & General Group Plc now owns 9,315 shares of the company’s stock valued at $256,000 after acquiring an additional 4,499 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Global Blood Therapeutics by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,173 shares of the company’s stock valued at $5,037,000 after acquiring an additional 44,784 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities research analysts have issued reports on GBT shares. BidaskClub cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Morgan Stanley reissued an “overweight” rating on shares of Global Blood Therapeutics in a report on Tuesday, July 11th. ValuEngine cut shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. J P Morgan Chase & Co reissued 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, Needham & Company LLC started coverage on shares of Global Blood Therapeutics in a report on Wednesday, September 20th. They set a “buy” rating and a $51.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Global Blood Therapeutics presently has an average rating of “Buy” and a consensus target price of $49.84.

Global Blood Therapeutics, Inc. (NASDAQ:GBT) opened at 28.50 on Monday. Global Blood Therapeutics, Inc. has a 52-week low of $13.35 and a 52-week high of $41.15. The stock’s market capitalization is $1.24 billion. The stock’s 50 day moving average is $27.87 and its 200-day moving average is $30.05.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.06. During the same quarter in the prior year, the company earned ($0.58) earnings per share. Equities research analysts anticipate that Global Blood Therapeutics, Inc. will post ($2.44) EPS for the current fiscal year.

In other news, insider Jung Choi sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the sale, the insider now directly owns 141,655 shares in the company, valued at approximately $4,249,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deval L. Patrick sold 27,053 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $29.69, for a total transaction of $803,203.57. Following the sale, the director now owns 12,053 shares in the company, valued at $357,853.57. The disclosure for this sale can be found here. Insiders sold 33,053 shares of company stock worth $983,204 over the last quarter. Insiders own 5.30% of the company’s stock.

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).

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

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