New York State Common Retirement Fund Cuts Stake in Global Blood Therapeutics, Inc. (NASDAQ:GBT)

New York State Common Retirement Fund lowered its position in shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT) by 16.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,214 shares of the company’s stock after selling 8,386 shares during the period. New York State Common Retirement Fund’s holdings in Global Blood Therapeutics were worth $1,101,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Global Blood Therapeutics by 7.0% during the second quarter. Victory Capital Management Inc. now owns 7,457 shares of the company’s stock valued at $261,000 after buying an additional 490 shares during the period. US Bancorp DE increased its stake in shares of Global Blood Therapeutics by 258.5% during the second quarter. US Bancorp DE now owns 907 shares of the company’s stock valued at $32,000 after buying an additional 654 shares during the period. Rhumbline Advisers increased its stake in shares of Global Blood Therapeutics by 1.3% during the second quarter. Rhumbline Advisers now owns 60,990 shares of the company’s stock valued at $2,136,000 after buying an additional 757 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Global Blood Therapeutics by 1.6% during the second quarter. Thrivent Financial for Lutherans now owns 52,938 shares of the company’s stock valued at $1,854,000 after buying an additional 847 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Global Blood Therapeutics during the third quarter valued at $25,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Shares of NASDAQ GBT opened at $28.99 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.91 and a current ratio of 6.60. The company has a market cap of $1.87 billion, a PE ratio of -6.50 and a beta of 1.23. The business has a 50-day simple moving average of $30.09 and a two-hundred day simple moving average of $30.21. Global Blood Therapeutics, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $52.49.

Global Blood Therapeutics (NASDAQ:GBT) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.03). Global Blood Therapeutics had a negative return on equity of 79.04% and a negative net margin of 154.11%. The business had revenue of $52.05 million during the quarter, compared to analyst estimates of $53.69 million. During the same period in the prior year, the business posted ($0.97) EPS. Global Blood Therapeutics’s revenue was up 41.1% compared to the same quarter last year. On average, sell-side analysts predict that Global Blood Therapeutics, Inc. will post -4.59 earnings per share for the current fiscal year.

Several equities analysts have issued reports on GBT shares. Jefferies Financial Group started coverage on Global Blood Therapeutics in a research note on Wednesday, October 6th. They issued a “buy” rating and a $68.00 target price on the stock. SVB Leerink cut their target price on Global Blood Therapeutics from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 21st. Royal Bank of Canada cut their target price on Global Blood Therapeutics from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 5th. Finally, William Blair upgraded Global Blood Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $61.42.

Global Blood Therapeutics Company Profile

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. It also provides oral medicines for sickle cell diseases. The company was founded by Matthew P. Jacobson, Andrej Sali, Jack Taunton, Charles J.

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

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