Morgan Stanley Raises Stake in Global Blood Therapeutics Inc (NASDAQ:GBT)

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Morgan Stanley increased its holdings in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 59.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 401,851 shares of the company’s stock after purchasing an additional 149,473 shares during the period. Morgan Stanley owned 0.66% of Global Blood Therapeutics worth $20,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd increased its holdings in Global Blood Therapeutics by 3,290.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 373 shares of the company’s stock valued at $30,000 after buying an additional 362 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Global Blood Therapeutics by 62.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 883 shares of the company’s stock valued at $45,000 after purchasing an additional 338 shares during the last quarter. Truvestments Capital LLC acquired a new position in Global Blood Therapeutics during the 1st quarter valued at about $47,000. Advisor Group Inc. grew its position in Global Blood Therapeutics by 36.6% in the 4th quarter. Advisor Group Inc. now owns 1,145 shares of the company’s stock worth $91,000 after purchasing an additional 307 shares during the last quarter. Finally, Focused Wealth Management Inc increased its stake in shares of Global Blood Therapeutics by 244.2% in the first quarter. Focused Wealth Management Inc now owns 1,175 shares of the company’s stock valued at $60,000 after purchasing an additional 1,990 shares during the period.

GBT has been the topic of several analyst reports. Wedbush restated a “buy” rating and issued a $145.00 target price on shares of Global Blood Therapeutics in a research report on Tuesday, June 23rd. Cantor Fitzgerald lifted their price objective on shares of Global Blood Therapeutics from $105.00 to $130.00 in a research note on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $150.00 target price on shares of Global Blood Therapeutics in a research report on Thursday, June 25th. Nomura restated a “buy” rating and set a $112.00 price target on shares of Global Blood Therapeutics in a research report on Thursday, May 7th. Finally, ValuEngine upgraded shares of Global Blood Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Global Blood Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $105.13.

In other news, Director Mark L. Perry sold 53,600 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $78.10, for a total value of $4,186,160.00. Following the completion of the sale, the director now owns 41,428 shares of the company’s stock, valued at $3,235,526.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ted W. Love sold 2,817 shares of Global Blood Therapeutics stock in a transaction on Monday, April 27th. The shares were sold at an average price of $80.87, for a total value of $227,810.79. Following the transaction, the insider now owns 1,076,150 shares in the company, valued at approximately $87,028,250.50. The disclosure for this sale can be found here. Insiders have sold 81,330 shares of company stock valued at $6,120,196 over the last ninety days. Insiders own 4.20% of the company’s stock.

GBT opened at $66.50 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 9.07 and a quick ratio of 8.83. The business has a fifty day simple moving average of $67.93 and a 200-day simple moving average of $69.22. Global Blood Therapeutics Inc has a fifty-two week low of $39.95 and a fifty-two week high of $87.54.

Global Blood Therapeutics (NASDAQ:GBT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.27. The company had revenue of $14.12 million for the quarter, compared to analysts’ expectations of $3.65 million. During the same period in the prior year, the company earned ($0.87) earnings per share. As a group, equities analysts expect that Global Blood Therapeutics Inc will post -4.49 EPS for the current year.

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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