BidaskClub downgraded shares of Global Blood Therapeutics (NASDAQ:GBT) from a hold rating to a sell rating in a research note published on Wednesday morning.
GBT has been the subject of a number of other research reports. Cantor Fitzgerald set a $61.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a research report on Monday, December 11th. William Blair assumed coverage on shares of Global Blood Therapeutics in a research report on Tuesday, January 23rd. They set an outperform rating and a $80.00 target price for the company. SunTrust Banks set a $80.00 target price on shares of Global Blood Therapeutics and gave the stock a buy rating in a research report on Thursday, March 1st. ValuEngine upgraded shares of Global Blood Therapeutics from a sell rating to a hold rating in a research report on Friday, February 2nd. Finally, Wedbush reiterated an outperform rating and set a $73.00 target price on shares of Global Blood Therapeutics in a research report on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $70.69.
Shares of GBT stock opened at $41.65 on Wednesday. Global Blood Therapeutics has a 52-week low of $24.02 and a 52-week high of $68.05. The firm has a market capitalization of $2,232.20, a PE ratio of -15.09 and a beta of 4.37.
In other Global Blood Therapeutics news, insider Peter Radovich sold 812 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $57.30, for a total transaction of $46,527.60. Following the sale, the insider now owns 6,221 shares of the company’s stock, valued at approximately $356,463.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $62.95, for a total transaction of $188,850.00. Following the sale, the insider now directly owns 140,877 shares in the company, valued at approximately $8,868,207.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,911 shares of company stock worth $3,112,352. Insiders own 5.30% of the company’s stock.
Large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in Global Blood Therapeutics during the 3rd quarter worth about $200,000. Trexquant Investment LP bought a new stake in Global Blood Therapeutics during the 3rd quarter worth about $202,000. Xact Kapitalforvaltning AB bought a new stake in Global Blood Therapeutics during the 4th quarter worth about $202,000. Dynamic Technology Lab Private Ltd bought a new stake in Global Blood Therapeutics during the 3rd quarter worth about $205,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Global Blood Therapeutics in the 3rd quarter valued at about $230,000. 85.40% of the stock is currently owned by hedge funds and other institutional investors.
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About Global Blood Therapeutics
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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