Redmile Group LLC reduced its holdings in Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 32.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 631,283 shares of the company’s stock after selling 303,060 shares during the quarter. Redmile Group LLC owned 1.45% of Global Blood Therapeutics worth $17,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley increased its position in Global Blood Therapeutics by 140.0% in the 1st quarter. Morgan Stanley now owns 334,872 shares of the company’s stock valued at $12,340,000 after acquiring an additional 195,323 shares during the period. Sphera Funds Management LTD. acquired a new stake in Global Blood Therapeutics in the 2nd quarter valued at approximately $4,103,000. Emory University acquired a new stake in Global Blood Therapeutics in the 2nd quarter valued at approximately $1,442,000. Marcus Capital LLC increased its position in Global Blood Therapeutics by 25.7% in the 2nd quarter. Marcus Capital LLC now owns 65,350 shares of the company’s stock valued at $1,787,000 after acquiring an additional 13,350 shares during the period. Finally, Citigroup Inc. increased its position in Global Blood Therapeutics by 1,544.9% in the 2nd quarter. Citigroup Inc. now owns 87,819 shares of the company’s stock valued at $2,402,000 after acquiring an additional 82,480 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shares of Global Blood Therapeutics, Inc. (GBT) traded up 0.15% during trading on Friday, reaching $32.35. The company’s stock had a trading volume of 654,260 shares. The company’s 50-day moving average is $28.61 and its 200-day moving average is $29.62. Global Blood Therapeutics, Inc. has a 12 month low of $13.35 and a 12 month high of $41.15. The company’s market capitalization is $1.41 billion.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.06. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. On average, analysts forecast that Global Blood Therapeutics, Inc. will post ($2.44) EPS for the current fiscal year.

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Several analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $56.00 target price (up from $51.00) on shares of Global Blood Therapeutics in a research report on Friday. BidaskClub upgraded Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company restated an “outperform” rating and issued a $83.00 target price on shares of Global Blood Therapeutics in a research report on Monday, August 14th. ValuEngine upgraded Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $46.00 target price (up from $44.00) on shares of Global Blood Therapeutics in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.73.

In other Global Blood Therapeutics news, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $30.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 143,255 shares in the company, valued at approximately $4,297,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deval L. Patrick sold 27,053 shares of the company’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 of the company’s stock, valued at approximately $357,853.57. The disclosure for this sale can be found here. Insiders sold a total of 36,053 shares of company stock valued at $1,073,204 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

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

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