Fernwood Investment Management LLC Has $17.25 Million Position in Global Blood Therapeutics Inc (NASDAQ:GBT)

Fernwood Investment Management LLC lifted its holdings in Global Blood Therapeutics Inc (NASDAQ:GBT) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,905 shares of the company’s stock after acquiring an additional 3,028 shares during the period. Global Blood Therapeutics accounts for about 9.4% of Fernwood Investment Management LLC’s portfolio, making the stock its biggest holding. Fernwood Investment Management LLC owned approximately 0.58% of Global Blood Therapeutics worth $17,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBT. Steward Partners Investment Advisory LLC bought a new position in shares of Global Blood Therapeutics in the second quarter worth about $27,000. Truvestments Capital LLC bought a new position in shares of Global Blood Therapeutics in the first quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Global Blood Therapeutics by 17.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock worth $172,000 after acquiring an additional 482 shares during the period. Strs Ohio boosted its stake in shares of Global Blood Therapeutics by 143.8% in the first quarter. Strs Ohio now owns 3,900 shares of the company’s stock worth $206,000 after acquiring an additional 2,300 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Global Blood Therapeutics in the first quarter worth about $247,000.

GBT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $150.00 price target on shares of Global Blood Therapeutics in a research note on Thursday, August 8th. Wedbush reissued an “outperform” rating and set a $103.00 price target on shares of Global Blood Therapeutics in a research note on Monday. Morgan Stanley set a $60.00 price target on Global Blood Therapeutics and gave the company a “hold” rating in a research note on Friday, August 9th. Oppenheimer increased their price target on Global Blood Therapeutics from $82.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, Cantor Fitzgerald set a $110.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $88.33.

Shares of NASDAQ:GBT traded down $0.81 during trading on Thursday, hitting $47.33. The company had a trading volume of 11,646 shares, compared to its average volume of 586,890. The company has a market cap of $2.86 billion, a PE ratio of -13.87 and a beta of 1.51. Global Blood Therapeutics Inc has a one year low of $30.15 and a one year high of $64.94. The stock has a fifty day moving average price of $54.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.79 and a current ratio of 16.79.

Global Blood Therapeutics (NASDAQ:GBT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.05). During the same quarter last year, the company earned ($0.78) earnings per share. As a group, research analysts anticipate that Global Blood Therapeutics Inc will post -3.87 EPS for the current year.

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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