Point72 Asset Management L.P. Raises Stock Position in Global Blood Therapeutics, Inc. (NASDAQ:GBT)

Point72 Asset Management L.P. grew its stake in Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 2,416.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,325,482 shares of the company’s stock after acquiring an additional 1,272,802 shares during the period. Point72 Asset Management L.P. owned about 2.13% of Global Blood Therapeutics worth $54,013,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Yiheng Capital Management L.P. increased its stake in Global Blood Therapeutics by 543.8% during the 1st quarter. Yiheng Capital Management L.P. now owns 948,968 shares of the company’s stock worth $35,161,000 after buying an additional 801,568 shares during the period. Norges Bank acquired a new stake in Global Blood Therapeutics during the 4th quarter worth $24,006,000. Janus Henderson Group PLC boosted its stake in Global Blood Therapeutics by 10.0% during the 4th quarter. Janus Henderson Group PLC now owns 5,966,862 shares of the company’s stock worth $258,426,000 after purchasing an additional 540,580 shares during the period. BlackRock Inc. raised its position in Global Blood Therapeutics by 13.8% during the 1st quarter. BlackRock Inc. now owns 4,192,229 shares of the company’s stock worth $170,834,000 after buying an additional 508,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Global Blood Therapeutics by 46.9% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,177,874 shares of the company’s stock worth $47,998,000 after buying an additional 376,019 shares during the last quarter.

Shares of Global Blood Therapeutics stock opened at $30.54 on Thursday. The company has a current ratio of 9.47, a quick ratio of 8.75 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $36.36. Global Blood Therapeutics, Inc. has a 52 week low of $30.05 and a 52 week high of $74.06.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Tuesday, May 4th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.20). Global Blood Therapeutics had a negative return on equity of 57.58% and a negative net margin of 167.73%. The business had revenue of $39.04 million during the quarter, compared to the consensus estimate of $42.88 million. As a group, analysts predict that Global Blood Therapeutics, Inc. will post -4.61 earnings per share for the current year.

A number of equities analysts have recently issued reports on GBT shares. Cantor Fitzgerald cut their price target on shares of Global Blood Therapeutics from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, May 7th. JPMorgan Chase & Co. cut shares of Global Blood Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $36.00 in a research report on Monday, June 28th. Canaccord Genuity cut their price target on shares of Global Blood Therapeutics from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Thursday, May 6th. Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research note on Tuesday, April 6th. Finally, SVB Leerink started coverage on shares of Global Blood Therapeutics in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $54.00 price target for the company. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Global Blood Therapeutics has an average rating of “Buy” and a consensus target price of $78.41.

In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,065 shares of the business’s stock in a transaction dated Friday, June 18th. The stock was sold at an average price of $36.54, for a total transaction of $38,915.10. Following the sale, the director now owns 7,837 shares in the company, valued at approximately $286,363.98. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by insiders.

Global Blood Therapeutics Profile

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. The company offers Oxbryta tablets, an oral, once-daily therapy for sickle cell disease (SCD). It is evaluating the safety and pharmacokinetics of single and multiple doses of Oxbryta 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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