Global Blood Therapeutics Inc (GBT) Stake Lowered by BlackRock Inc.

BlackRock Inc. lessened its position in Global Blood Therapeutics Inc (NASDAQ:GBT) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,319,882 shares of the company’s stock after selling 207,426 shares during the period. BlackRock Inc. owned about 7.22% of Global Blood Therapeutics worth $130,636,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in Global Blood Therapeutics during the 3rd quarter worth about $230,000. Prudential Financial Inc. lifted its position in Global Blood Therapeutics by 6.3% during the 3rd quarter. Prudential Financial Inc. now owns 116,895 shares of the company’s stock worth $3,629,000 after buying an additional 6,900 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Global Blood Therapeutics by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 188,882 shares of the company’s stock valued at $5,865,000 after purchasing an additional 4,709 shares during the period. Russell Investments Group Ltd. lifted its position in Global Blood Therapeutics by 31.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 57,878 shares of the company’s stock valued at $1,797,000 after purchasing an additional 13,864 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Global Blood Therapeutics during the 3rd quarter valued at about $205,000. Institutional investors own 85.40% of the company’s stock.

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In other news, insider Peter Radovich sold 812 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $57.30, for a total value of $46,527.60. Following the completion of the sale, the insider now directly owns 6,221 shares of the company’s stock, valued at approximately $356,463.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $52.85, for a total value of $158,550.00. Following the completion of the sale, the insider now directly owns 137,255 shares of the company’s stock, valued at $7,253,926.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,911 shares of company stock valued at $3,112,352. 5.30% of the stock is currently owned by company insiders.

Shares of GBT stock opened at $48.15 on Friday. The company has a market capitalization of $2,554.34, a PE ratio of -17.51 and a beta of 4.31. Global Blood Therapeutics Inc has a 52 week low of $24.02 and a 52 week high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.22). equities analysts predict that Global Blood Therapeutics Inc will post -3.72 EPS for the current year.

A number of research firms have issued reports on GBT. BidaskClub upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Morgan Stanley upped their target price on shares of Global Blood Therapeutics from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, March 6th. Zacks Investment Research downgraded shares of Global Blood Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 6th. Cantor Fitzgerald set a $72.00 target price on shares of Global Blood Therapeutics and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, HC Wainwright set a $73.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $70.69.

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Global Blood Therapeutics Company Profile

Global Blood Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its lead product candidate is voxelotor, an oral once-daily therapy that modulates hemoglobin's affinity for oxygen, which is in Phase 3 clinical trials in adult and adolescent patients with sickle cell disease (SCD), as well as in evaluating the safety and pharmacokinetics of single and multiple doses of voxelotor in a Phase 2a clinical trial of adolescent and pediatric patients with SCD.

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

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