Bank of New York Mellon Corp Increases Holdings in Global Blood Therapeutics Inc (GBT)

Bank of New York Mellon Corp lifted its holdings in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 122.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 524,071 shares of the company’s stock after purchasing an additional 288,530 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of Global Blood Therapeutics worth $21,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBT. Lindbrook Capital LLC acquired a new stake in shares of Global Blood Therapeutics during the 4th quarter worth about $55,000. Bank of Montreal Can grew its stake in Global Blood Therapeutics by 61.9% during the 4th quarter. Bank of Montreal Can now owns 1,582 shares of the company’s stock worth $65,000 after buying an additional 605 shares during the last quarter. Strs Ohio purchased a new position in Global Blood Therapeutics during the 4th quarter worth approximately $65,000. Focused Wealth Management Inc grew its stake in Global Blood Therapeutics by 14.6% during the 4th quarter. Focused Wealth Management Inc now owns 3,140 shares of the company’s stock worth $129,000 after buying an additional 400 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Global Blood Therapeutics by 740.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,353 shares of the company’s stock worth $165,000 after buying an additional 3,835 shares during the last quarter.

A number of research analysts recently issued reports on GBT shares. BidaskClub upgraded Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Guggenheim assumed coverage on Global Blood Therapeutics in a research note on Friday, February 22nd. They issued a “buy” rating and a $75.00 target price on the stock. Zacks Investment Research downgraded Global Blood Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. HC Wainwright set a $150.00 target price on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $75.00 target price on shares of Global Blood Therapeutics in a research note on Thursday, February 28th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $86.57.

Shares of NASDAQ GBT traded down $1.74 during trading on Friday, reaching $54.85. The company had a trading volume of 1,259,063 shares, compared to its average volume of 620,268. Global Blood Therapeutics Inc has a twelve month low of $30.15 and a twelve month high of $59.95. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -16.09 and a beta of 2.12.

Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings results on Wednesday, February 27th. The company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.05). During the same period in the prior year, the business earned ($0.95) earnings per share. As a group, analysts forecast that Global Blood Therapeutics Inc will post -3.9 EPS for the current fiscal year.

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Global Blood Therapeutics Company Profile

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

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