Neuburgh Advisers LLC Trims Position in Global Blood Therapeutics Inc (NASDAQ:GBT)

Neuburgh Advisers LLC lessened its stake in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 12.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,512 shares of the company’s stock after selling 368 shares during the quarter. Neuburgh Advisers LLC’s holdings in Global Blood Therapeutics were worth $132,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in Global Blood Therapeutics during the 2nd quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Global Blood Therapeutics by 17.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the company’s stock valued at $172,000 after buying an additional 482 shares in the last quarter. LPL Financial LLC purchased a new position in Global Blood Therapeutics during the 2nd quarter valued at about $219,000. Shell Asset Management Co. purchased a new position in shares of Global Blood Therapeutics during the first quarter worth about $250,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Global Blood Therapeutics during the first quarter worth about $257,000. 97.99% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on GBT shares. Morgan Stanley set a $60.00 price objective on Global Blood Therapeutics and gave the stock a “hold” rating in a report on Friday, August 9th. Cowen set a $83.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Thursday, September 5th. Goldman Sachs Group reissued a “neutral” rating and set a $75.00 price objective on shares of Global Blood Therapeutics in a report on Wednesday, May 29th. Wedbush reissued a “buy” rating and set a $120.00 price objective on shares of Global Blood Therapeutics in a report on Thursday. Finally, HC Wainwright set a $150.00 price objective on Global Blood Therapeutics and gave the stock a “buy” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.75.

NASDAQ:GBT traded up $0.01 during mid-day trading on Friday, reaching $54.32. The stock had a trading volume of 153,197 shares, compared to its average volume of 883,383. The firm has a 50 day moving average price of $49.97 and a two-hundred day moving average price of $54.43. The stock has a market capitalization of $3.25 billion, a P/E ratio of -15.93 and a beta of 1.58. Global Blood Therapeutics Inc has a one year low of $30.15 and a one year high of $64.94. 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 released its earnings results on Wednesday, August 7th. The company reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.05). During the same period in the prior year, the company posted ($0.78) earnings per share. Research analysts forecast that Global Blood Therapeutics Inc will post -3.98 earnings per share for the current year.

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

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