Candriam Luxembourg S.C.A. Raises Position in Global Blood Therapeutics, Inc. (NASDAQ:GBT)

Candriam Luxembourg S.C.A. increased its position in shares of Global Blood Therapeutics, Inc. (NASDAQ:GBTGet Rating) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 756,708 shares of the company’s stock after purchasing an additional 108,369 shares during the period. Candriam Luxembourg S.C.A. owned approximately 1.16% of Global Blood Therapeutics worth $26,211,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Global Blood Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 6,024,262 shares of the company’s stock worth $208,680,000 after purchasing an additional 31,120 shares during the period. Kynam Capital Management LP grew its holdings in Global Blood Therapeutics by 22.5% during the first quarter. Kynam Capital Management LP now owns 1,339,322 shares of the company’s stock worth $46,394,000 after acquiring an additional 246,373 shares during the period. Dimensional Fund Advisors LP grew its holdings in Global Blood Therapeutics by 26.5% during the first quarter. Dimensional Fund Advisors LP now owns 530,693 shares of the company’s stock worth $18,384,000 after acquiring an additional 111,130 shares during the period. Rhumbline Advisers raised its position in Global Blood Therapeutics by 3.0% in the first quarter. Rhumbline Advisers now owns 64,979 shares of the company’s stock worth $2,251,000 after acquiring an additional 1,876 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Global Blood Therapeutics by 5.6% in the first quarter. Panagora Asset Management Inc. now owns 95,374 shares of the company’s stock valued at $3,304,000 after acquiring an additional 5,086 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GBT shares. Canaccord Genuity Group raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $72.00 in a research note on Monday, August 8th. William Blair cut shares of Global Blood Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Canaccord Genuity Group raised 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. SVB Leerink downgraded Global Blood Therapeutics from an “outperform” rating to a “market perform” rating and set a $68.50 price objective for the company. in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Global Blood Therapeutics from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.50.

Insider Activity

In related news, Director Philip A. Pizzo sold 1,260 shares of the stock in a transaction dated 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 directly owns 9,112 shares in the company, valued at $248,302. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Philip A. Pizzo sold 1,260 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $27.25, for a total transaction of $34,335.00. Following the completion of the transaction, the director now owns 9,112 shares of the company’s stock, valued at $248,302. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nazila Habibizad sold 4,678 shares of Global Blood Therapeutics stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $67.19, for a total transaction of $314,314.82. Following the completion of the transaction, the insider now owns 8,918 shares in the company, valued at approximately $599,200.42. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Global Blood Therapeutics Price Performance

NASDAQ:GBT opened at $67.98 on Friday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -13.57 and a beta of 0.46. Global Blood Therapeutics, Inc. has a 12-month low of $21.65 and a 12-month high of $73.02. The company has a current ratio of 6.88, a quick ratio of 6.17 and a debt-to-equity ratio of 4.92. The company’s 50-day moving average is $50.87 and its two-hundred day moving average is $37.10.

Global Blood Therapeutics (NASDAQ:GBTGet Rating) last announced its earnings results on Monday, August 8th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.07). The firm had revenue of $71.55 million for the quarter, compared to analyst estimates of $64.39 million. Global Blood Therapeutics had a negative return on equity of 170.37% and a negative net margin of 137.30%. During the same quarter last year, the business posted ($1.12) EPS. Research analysts expect that Global Blood Therapeutics, Inc. will post -4.7 EPS for the current year.

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.

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

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