Global Blood Therapeutics Inc (GBT) Short Interest Update

Global Blood Therapeutics Inc (NASDAQ:GBT) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,215,242 shares, a growth of 35.9% from the October 15th total of 6,781,123 shares. Based on an average trading volume of 1,368,800 shares, the short-interest ratio is presently 6.7 days. Currently, 18.5% of the company’s shares are short sold.

A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of Global Blood Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Oppenheimer set a $82.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Wednesday. William Blair reiterated a “buy” rating on shares of Global Blood Therapeutics in a research report on Wednesday. HC Wainwright set a $125.00 price objective on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research report on Monday, November 5th. Finally, Cantor Fitzgerald set a $96.00 target price on shares of Global Blood Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Global Blood Therapeutics presently has an average rating of “Buy” and an average price target of $80.20.

In other Global Blood Therapeutics news, insider Lesley Ann Calhoun sold 2,004 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $49.89, for a total transaction of $99,979.56. Following the transaction, the insider now owns 1,342 shares in the company, valued at $66,952.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GBT. State of Wisconsin Investment Board lifted its stake in Global Blood Therapeutics by 40.6% in the second quarter. State of Wisconsin Investment Board now owns 52,300 shares of the company’s stock worth $2,364,000 after acquiring an additional 15,100 shares during the period. Nexthera Capital LP lifted its stake in Global Blood Therapeutics by 28.2% in the second quarter. Nexthera Capital LP now owns 404,092 shares of the company’s stock worth $18,265,000 after acquiring an additional 88,945 shares during the period. American Century Companies Inc. purchased a new stake in Global Blood Therapeutics in the second quarter worth about $2,680,000. State Board of Administration of Florida Retirement System lifted its stake in Global Blood Therapeutics by 19.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,669 shares of the company’s stock worth $1,070,000 after acquiring an additional 3,900 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Global Blood Therapeutics in the second quarter worth about $366,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Shares of GBT opened at $39.89 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of -14.45 and a beta of 3.70. Global Blood Therapeutics has a 12-month low of $31.50 and a 12-month high of $68.05.

Global Blood Therapeutics (NASDAQ:GBT) last issued its earnings results on Tuesday, November 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.02. During the same quarter in the previous year, the business earned ($0.66) EPS. As a group, sell-side analysts predict that Global Blood Therapeutics will post -3.38 EPS for the current fiscal year.

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About Global Blood Therapeutics

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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