Trexquant Investment LP Purchases Shares of 8,789 Global Blood Therapeutics Inc (NASDAQ:GBT)
by Sarita GarzaTrexquant Investment LP purchased a new stake in Global Blood Therapeutics Inc (NASDAQ:GBT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,789 shares of the company’s stock, valued at approximately $449,000.
Other institutional investors also recently modified their holdings of the company. Evolution Wealth Advisors LLC boosted its holdings in Global Blood Therapeutics by 1,383.3% in the 4th quarter. Evolution Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after purchasing an additional 332 shares during the period. Point72 Hong Kong Ltd boosted its holdings in Global Blood Therapeutics by 3,290.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 373 shares of the company’s stock valued at $30,000 after purchasing an additional 362 shares during the period. US Bancorp DE lifted its holdings in shares of Global Blood Therapeutics by 6,772.7% during the 4th quarter. US Bancorp DE now owns 756 shares of the company’s stock worth $60,000 after acquiring an additional 745 shares during the period. Sowell Financial Services LLC bought a new position in shares of Global Blood Therapeutics during the 4th quarter worth about $63,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Global Blood Therapeutics by 62.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 883 shares of the company’s stock worth $45,000 after acquiring an additional 338 shares during the period.
In other Global Blood Therapeutics news, Director Mark L. Perry sold 53,600 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $78.10, for a total value of $4,186,160.00. Following the completion of the sale, the director now owns 41,428 shares in the company, valued at approximately $3,235,526.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Willie L. Jr. Brown acquired 10,000 shares of the stock in a transaction on Friday, March 13th. The stock was bought at an average price of $52.37 per share, with a total value of $523,700.00. Following the transaction, the director now directly owns 31,428 shares in the company, valued at approximately $1,645,884.36. The disclosure for this purchase can be found here. Insiders sold a total of 65,654 shares of company stock valued at $5,069,094 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.
Shares of GBT stock opened at $68.75 on Friday. Global Blood Therapeutics Inc has a 12-month low of $39.95 and a 12-month high of $87.54. The company has a market capitalization of $4.30 billion, a P/E ratio of -14.12 and a beta of 1.97. The firm has a 50-day moving average price of $72.21 and a 200 day moving average price of $68.38. The company has a quick ratio of 8.83, a current ratio of 9.07 and a debt-to-equity ratio of 0.30.
Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.27. The firm had revenue of $14.12 million for the quarter, compared to the consensus estimate of $3.65 million. During the same period in the prior year, the business earned ($0.87) earnings per share. As a group, research analysts expect that Global Blood Therapeutics Inc will post -4.58 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Global Blood Therapeutics from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Stifel Nicolaus assumed coverage on shares of Global Blood Therapeutics in a report on Monday, April 27th. They set a “buy” rating and a $112.00 price objective for the company. Wedbush reaffirmed a “buy” rating and set a $145.00 price objective on shares of Global Blood Therapeutics in a report on Tuesday, May 12th. SunTrust Banks downgraded shares of Global Blood Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $110.00 to $75.00 in a report on Friday, January 31st. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $60.00 price objective on shares of Global Blood Therapeutics in a report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $103.25.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities. It is developing its lead product candidate, voxelotor, an oral, once-daily therapy for sickle cell disease (SCD). The company is evaluating voxelotor in SCD in a Phase III clinical trial in adult and adolescent patients with SCD.
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