It is currently trading at $39.80 which is well above the 50 day moving average of $31.21 and which is significantly higher than the 200 day moving average of $29.36. The 50 day moving average went up $8.59 or +27.52% and the 200 day average moved up $10.44. Trading volume for Global Blood Therapeutics, Inc. was 1,646K on Tuesday. Overall, volume was up 49.63% over the stocks normal daily volume.
Traders are feeling more bearish on shares of the company if you pay attention to the change in short interest. The stock saw a rise in short interest of 7.31% as of October 13, 2017 from the last reporting period. Short shares increased from 5,818,091 to 6,243,154 over that period. The short-interest ratio decreased to 6.0 and the percentage of shorted shares was 0.14% on October 13.
Here is a rundown on some insider market activity for Global Blood Therapeutics, Inc. (NASDAQ:GBT). Sr VP Peter Radovich disclosed the sale of 12,500 shares of GBT stock. The shares were sold on October 30th for an average price of $35.00. Radovich now owns $0 of the stock per the Form 4 SEC filing. Jung Choi, See Remarks sold $97,950 worth of shares at an average price of $32.65 on Tue the 17th. Choi now owns $4,520,556 of stock as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in GBT. Edge Wealth Management LLC expanded its position by buying 435 shares an increase of 131.8%. Edge Wealth Management LLC owns 765 shares worth $23,000. The total value of its holdings increased 155.6%. As of quarter end Hershey Trust Co had acquired 12,335 shares growing its position 29.6%. The value of the investment in Global Blood Therapeutics, Inc. increased from $1,140,000 to $1,677,000 a change of $537,000 since the last quarter.
Nationwide Fund Advisors reduced its holdings by shedding 430 shares a decrease of 2.1% in the quarter. Nationwide Fund Advisors currently owns 20,497 shares with a value of $636,000. The value of the position overall is up by 11.2%. Raymond James Financial Services Advisors, Inc. augmented its stake by buying 1,150 shares an increase of 18.4% as of 09/30/2017. Raymond James Financial Services Advisors, Inc. claims 7,400 shares valued at $230,000. The value of the position overall is down by 0.0%.
Equity analyst Oppenheimer started coverage with a rating of “Outperform”. On September 21, 2017 Needham began coverage by announcing an initial rating of “Buy”.
On October 6 Morgan Stanley made no change to the company rating of “Overweight” and moved up the price target from $51.00 to $56.00.
As of the last earnings report the EPS was $-2.46 and is estimated to be $-2.44 for the current year with 43,676,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $-0.67 and the next full year EPS is anticipated to be $-2.91.
Global Blood Therapeutics, Inc., launched on February 04, 2011, is a clinical-stage biopharmaceutical company. The Company is involved in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD). The Company is evaluating GBT440 in SCD in a Phase III clinical trial of GBT440 in adult and adolescent patients with SCD. GBT440 inhibits abnormal hemoglobin polymerization, the underlying mechanism of red blood cell (RBC) sickling. The Company is also engaged in other research and development activities targeted towards hereditary angioedema (HAE)..