Los Angeles Capital Management & Equity Research Inc. Boosts Stake in Global Blood Therapeutics Inc (GBT)

Los Angeles Capital Management & Equity Research Inc. lifted its stake in Global Blood Therapeutics Inc (NASDAQ:GBT) by 935.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,300 shares of the company’s stock after acquiring an additional 65,320 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.14% of Global Blood Therapeutics worth $3,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc. increased its holdings in shares of Global Blood Therapeutics by 5.4% during the second quarter. TD Asset Management Inc. now owns 50,661 shares of the company’s stock worth $2,290,000 after buying an additional 2,600 shares in the last quarter. Bainco International Investors acquired a new stake in shares of Global Blood Therapeutics during the second quarter worth approximately $271,000. Capital Impact Advisors LLC increased its holdings in shares of Global Blood Therapeutics by 64.1% during the second quarter. Capital Impact Advisors LLC now owns 48,535 shares of the company’s stock worth $2,303,000 after buying an additional 18,966 shares in the last quarter. Creative Planning acquired a new stake in shares of Global Blood Therapeutics during the second quarter worth approximately $1,027,000. Finally, Fred Alger Management Inc. increased its holdings in shares of Global Blood Therapeutics by 297.4% during the second quarter. Fred Alger Management Inc. now owns 31,788 shares of the company’s stock worth $1,437,000 after buying an additional 23,788 shares in the last quarter. 94.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ GBT opened at $46.15 on Monday. The firm has a market cap of $2.40 billion, a PE ratio of -16.72 and a beta of 4.21. Global Blood Therapeutics Inc has a twelve month low of $26.10 and a twelve month high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09. During the same quarter in the prior year, the firm earned ($0.55) EPS. research analysts anticipate that Global Blood Therapeutics Inc will post -3.42 EPS for the current year.

In related news, Director Deval L. Patrick sold 42,379 shares of the firm’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $43.40, for a total transaction of $1,839,248.60. Following the sale, the director now directly owns 15,000 shares in the company, valued at $651,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lesley Ann Calhoun sold 1,000 shares of the firm’s stock in a transaction on Friday, July 6th. The stock was sold at an average price of $44.01, for a total transaction of $44,010.00. Following the sale, the insider now owns 1,388 shares in the company, valued at $61,085.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,674 shares of company stock worth $2,173,615. 4.40% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on GBT shares. Zacks Investment Research raised shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Global Blood Therapeutics in a report on Thursday, April 26th. Cantor Fitzgerald raised their price objective on shares of Global Blood Therapeutics from $69.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, June 27th. SunTrust Banks dropped their price objective on shares of Global Blood Therapeutics from $80.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, May 8th. Finally, Wells Fargo & Co increased their price target on shares of Global Blood Therapeutics from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Global Blood Therapeutics has a consensus rating of “Buy” and an average target price of $80.53.

About Global Blood Therapeutics

Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders. It also provides oral medicines for sickle cell diseases. The company was founded by Matthew P. Jacobson, Andrej Sali, Jack Taunton, Charles J.

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

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