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.

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.

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

(Get Rating)

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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