Global Blood Therapeutics (NASDAQ:GBT) Sets New 52-Week High at $48.00

Defense World · Aug 6, 2022 17:41

Shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT – Get Rating) reached a new 52-week high during trading on Thursday . The company traded as high as $48.00 and last traded at $46.47, with a volume of 80414 shares changing hands. The stock had previously closed at $33.93.

Analyst Upgrades and Downgrades

GBT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Global Blood Therapeutics from $39.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, June 28th. Cantor Fitzgerald assumed coverage on shares of Global Blood Therapeutics in a research note on Thursday, April 28th. They set a "buy" rating and a $75.00 price objective for the company. Oppenheimer reduced their price target on shares of Global Blood Therapeutics from $86.00 to $71.00 in a research report on Thursday, May 5th. Wedbush set a $74.00 price target on shares of Global Blood Therapeutics in a research report on Monday, June 20th. Finally, StockNews.com raised shares of Global Blood Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.40.

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Global Blood Therapeutics Stock Up 33.0 %

The company has a debt-to-equity ratio of 4.34, a current ratio of 8.52 and a quick ratio of 7.74. The business has a fifty day moving average of $31.23 and a 200 day moving average of $30.75. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -13.11 and a beta of 0.83.

Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. Global Blood Therapeutics had a negative return on equity of 129.74% and a negative net margin of 146.82%. The company had revenue of $55.20 million for the quarter, compared to the consensus estimate of $56.13 million. During the same quarter last year, the company posted ($1.21) earnings per share. The company's revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities analysts predict that Global Blood Therapeutics, Inc. will post -4.65 earnings per share for the current year.

Insider Buying and Selling at Global Blood Therapeutics

In other Global Blood Therapeutics news, Director Philip A. Pizzo sold 1,260 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $27.25, for a total transaction of $34,335.00. Following the transaction, the director now owns 9,112 shares in the company, valued at $248,302. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Global Blood Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Global Blood Therapeutics by 767.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,589 shares of the company's stock worth $1,968,000 after acquiring an additional 54,486 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of Global Blood Therapeutics by 39.3% in the second quarter. Vestmark Advisory Solutions Inc. now owns 17,644 shares of the company's stock worth $564,000 after acquiring an additional 4,975 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Global Blood Therapeutics in the second quarter worth $284,000. Nisa Investment Advisors LLC lifted its position in Global Blood Therapeutics by 39.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,110 shares of the company's stock worth $67,000 after purchasing an additional 600 shares during the period. Finally, Roosevelt Investment Group LLC lifted its position in Global Blood Therapeutics by 34.4% in the second quarter. Roosevelt Investment Group LLC now owns 802,390 shares of the company's stock worth $25,636,000 after purchasing an additional 205,543 shares during the period.

About Global Blood Therapeutics

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Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.