Global Blood Therapeutics Inc (NASDAQ:GBT) saw some unusual options trading on Wednesday. Investors acquired 4,065 put options on the stock. This represents an increase of 290% compared to the average volume of 1,042 put options.
Several research firms have issued reports on GBT. Stifel Nicolaus raised their price target on shares of Global Blood Therapeutics from $113.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Canaccord Genuity restated a "hold" rating on shares of Global Blood Therapeutics in a report on Thursday, June 25th. Piper Sandler restated a "buy" rating and issued a $120.00 price target on shares of Global Blood Therapeutics in a report on Wednesday, July 29th. Oppenheimer reiterated a "buy" rating and set a $101.00 price objective on shares of Global Blood Therapeutics in a research note on Monday, June 15th. Finally, Wedbush lifted their price objective on shares of Global Blood Therapeutics from $145.00 to $152.00 in a research note on Tuesday, August 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. Global Blood Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $106.71.
In related news, Director Dawn Svoronos sold 2,544 shares of Global Blood Therapeutics stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $63.94, for a total value of $162,663.36. Following the sale, the director now directly owns 4,800 shares in the company, valued at $306,912. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric Fink sold 2,454 shares of Global Blood Therapeutics stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $69.62, for a total value of $170,847.48. Following the completion of the sale, the insider now owns 950 shares in the company, valued at $66,139. The disclosure for this sale can be found here. Insiders sold a total of 20,206 shares of company stock worth $1,474,111 over the last quarter. Company insiders own 4.20% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in GBT. Janus Henderson Group PLC boosted its holdings in Global Blood Therapeutics by 51.9% in the first quarter. Janus Henderson Group PLC now owns 4,553,981 shares of the company's stock worth $232,662,000 after purchasing an additional 1,555,086 shares during the period. Capital World Investors boosted its holdings in Global Blood Therapeutics by 210.7% in the first quarter. Capital World Investors now owns 1,452,448 shares of the company's stock worth $74,206,000 after purchasing an additional 984,928 shares during the period. FMR LLC boosted its holdings in Global Blood Therapeutics by 9.2% in the second quarter. FMR LLC now owns 9,140,454 shares of the company's stock worth $577,038,000 after purchasing an additional 772,248 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Global Blood Therapeutics by 130.9% in the second quarter. TimesSquare Capital Management LLC now owns 1,263,710 shares of the company's stock worth $79,778,000 after purchasing an additional 716,460 shares during the period. Finally, Great Point Partners LLC acquired a new position in Global Blood Therapeutics in the second quarter worth $34,229,000.
Shares of GBT stock traded down $0.53 during mid-day trading on Wednesday, reaching $53.65. 7,195 shares of the company were exchanged, compared to its average volume of 892,174. The company has a market capitalization of $3.32 billion, a P/E ratio of -11.48 and a beta of 1.75. The business's 50 day simple moving average is $62.68 and its 200 day simple moving average is $65.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 8.17 and a current ratio of 8.56. Global Blood Therapeutics has a fifty-two week low of $39.95 and a fifty-two week high of $87.54.
Global Blood Therapeutics (NASDAQ:GBT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.86) EPS for the quarter, topping analysts' consensus estimates of ($1.18) by $0.32. The business had revenue of $31.50 million during the quarter, compared to analyst estimates of $18.85 million. On average, analysts forecast that Global Blood Therapeutics will post -3.42 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.
Further Reading: Cost of Capital Explained
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Transportation Stocks You Can’t Ignore
There is a situation developing in the U.S. that will drive revenue and profits for the transportation industry for many years to come. It started to develop with the pandemic, began to grow when the recession was less than expected, and was later compounded by an economic rebound that is much stronger than expected.
When the pandemic struck and lock-downs took effect manufacturers shuttered their plants and supply chains dried up. When Congress sent out the stimulus checks it sparked a round of consumer spending that has wiped products off of shelves. Now, with inventories across industries reportedly down high-single to low-double digits from the previous year, there is a need for 1) manufacturing to meet demand and rebuild inventory and 2) transportation/shipping that is growing by the day.
We have compiled a list of 7 transportation stocks that can't be ignored,
View the "7 Transportation Stocks You Can’t Ignore".