Bank of America Corp DE increased its stake in shares of Global Blood Therapeutics, Inc. (NASDAQ:GBT – Get Rating) by 16.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,817,187 shares of the company's stock after acquiring an additional 260,871 shares during the quarter. Bank of America Corp DE owned about 2.79% of Global Blood Therapeutics worth $62,947,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SkyView Investment Advisors LLC raised its stake in Global Blood Therapeutics by 587.2% during the 1st quarter. SkyView Investment Advisors LLC now owns 804 shares of the company's stock worth $28,000 after acquiring an additional 687 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Global Blood Therapeutics by 75.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,510 shares of the company's stock valued at $52,000 after purchasing an additional 650 shares during the period. Advisor Group Holdings Inc. increased its stake in Global Blood Therapeutics by 31.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,865 shares of the company's stock valued at $55,000 after purchasing an additional 450 shares during the period. Cantor Fitzgerald L. P. acquired a new position in Global Blood Therapeutics in the first quarter valued at $208,000. Finally, FORA Capital LLC acquired a new position in Global Blood Therapeutics in the first quarter valued at $280,000.
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GBT stock opened at $67.75 on Tuesday. The company has a market cap of $4.57 billion, a P/E ratio of -13.52 and a beta of 0.46. Global Blood Therapeutics, Inc. has a 52 week low of $21.65 and a 52 week high of $73.02. The company's 50-day moving average price is $58.93 and its 200 day moving average price is $40.43. The company has a current ratio of 6.88, a quick ratio of 6.17 and a debt-to-equity ratio of 4.92.
Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.07). Global Blood Therapeutics had a negative net margin of 137.30% and a negative return on equity of 170.37%. The business had revenue of $71.55 million during the quarter, compared to analysts' expectations of $64.39 million. During the same period last year, the company earned ($1.12) EPS. On average, research analysts expect that Global Blood Therapeutics, Inc. will post -4.71 earnings per share for the current fiscal year.Wall Street Analysts Forecast Growth
A number of research firms have commented on GBT. Wedbush lowered shares of Global Blood Therapeutics to a "neutral" rating in a research note on Monday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Global Blood Therapeutics from $39.00 to $36.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 28th. Truist Financial lowered shares of Global Blood Therapeutics to a "hold" rating in a research note on Monday, August 15th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Global Blood Therapeutics in a research note on Wednesday, September 21st. Finally, Canaccord Genuity Group upgraded shares of Global Blood Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $72.00 in a research note on Monday, August 8th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.50.
Insider Buying and Selling at Global Blood Therapeutics
In other Global Blood Therapeutics news, insider Nazila Habibizad sold 4,678 shares of the company's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $67.19, for a total value of $314,314.82. Following the sale, the insider now owns 8,918 shares of the company's stock, valued at $599,200.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company's stock.
Global Blood Therapeutics Profile
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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.
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