Rice Hall James & Associates LLC Acquires New Shares in Global Blood Therapeutics Inc (NASDAQ:GBT)

Rice Hall James & Associates LLC acquired a new stake in Global Blood Therapeutics Inc (NASDAQ:GBT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,120 shares of the company’s stock, valued at approximately $7,318,000. Rice Hall James & Associates LLC owned about 0.25% of Global Blood Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GBT. Norges Bank acquired a new position in Global Blood Therapeutics in the fourth quarter valued at approximately $17,826,000. Dimensional Fund Advisors LP raised its holdings in shares of Global Blood Therapeutics by 497.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 492,420 shares of the company’s stock worth $20,214,000 after buying an additional 409,934 shares during the period. FMR LLC raised its holdings in shares of Global Blood Therapeutics by 1.1% in the first quarter. FMR LLC now owns 8,417,709 shares of the company’s stock worth $445,549,000 after buying an additional 88,310 shares during the period. Geode Capital Management LLC raised its holdings in shares of Global Blood Therapeutics by 15.5% in the fourth quarter. Geode Capital Management LLC now owns 619,730 shares of the company’s stock worth $25,439,000 after buying an additional 83,347 shares during the period. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Global Blood Therapeutics in the second quarter worth approximately $2,630,000.

Shares of NASDAQ GBT traded down $0.80 during trading hours on Thursday, hitting $47.34. 209,862 shares of the stock were exchanged, compared to its average volume of 586,890. The company has a quick ratio of 16.79, a current ratio of 16.79 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $54.12. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -13.88 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.

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 Thomson Reuters’ consensus estimate of ($0.96) by ($0.05). During the same period last year, the company earned ($0.78) EPS. On average, analysts anticipate that Global Blood Therapeutics Inc will post -3.87 EPS for the current year.

A number of research firms have recently weighed in on GBT. Cantor Fitzgerald set a $110.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a research report on Friday, June 14th. Cowen restated a “buy” rating and set a $83.00 target price on shares of Global Blood Therapeutics in a report on Thursday, August 8th. Wedbush restated an “outperform” rating and set a $103.00 target price on shares of Global Blood Therapeutics in a report on Monday. JPMorgan Chase & Co. restated a “buy” rating and set a $75.00 target price on shares of Global Blood Therapeutics in a report on Sunday. Finally, BidaskClub cut Global Blood Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $88.33.

Global Blood Therapeutics 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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