American International Group Inc. decreased its position in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,897 shares of the company’s stock after selling 252 shares during the quarter. American International Group Inc. owned approximately 0.06% of Global Blood Therapeutics worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its stake in Global Blood Therapeutics by 21.0% during the third quarter. FMR LLC now owns 7,807,836 shares of the company’s stock worth $296,698,000 after purchasing an additional 1,357,642 shares during the period. PointState Capital LP purchased a new stake in Global Blood Therapeutics during the third quarter worth about $20,832,000. Dimensional Fund Advisors LP increased its stake in Global Blood Therapeutics by 497.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock worth $20,214,000 after purchasing an additional 409,934 shares during the period. Perceptive Advisors LLC increased its stake in shares of Global Blood Therapeutics by 6.6% during the third quarter. Perceptive Advisors LLC now owns 5,148,910 shares of the company’s stock worth $195,658,000 after buying an additional 320,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Global Blood Therapeutics by 122.5% during the fourth quarter. Bank of New York Mellon Corp now owns 524,071 shares of the company’s stock worth $21,513,000 after buying an additional 288,530 shares during the period.
GBT traded down $1.74 on Friday, reaching $54.85. The company’s stock had a trading volume of 1,259,063 shares, compared to its average volume of 620,268. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -16.09 and a beta of 2.12. Global Blood Therapeutics Inc has a fifty-two week low of $30.15 and a fifty-two week high of $59.95.
A number of analysts recently weighed in on GBT shares. BidaskClub upgraded shares of Global Blood Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. ValuEngine lowered shares of Global Blood Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 10th. Wells Fargo & Co upped their target price on shares of Global Blood Therapeutics from $85.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Morgan Stanley upped their target price on shares of Global Blood Therapeutics from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, March 4th. Finally, Zacks Investment Research upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $86.57.
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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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