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If All Goes Well, Global Blood Therapeutics Inc. (NASDAQ: GBT) Could Shrink By -119.12% Or More

During the recent session, Global Blood Therapeutics Inc. (NASDAQ:GBT)’s traded shares were 3.26 million, with the beta value of the company hitting 0.85. At the last check today, the stock’s price was $46.55, reflecting an intraday gain of 37.20% or $12.62. The 52-week high for the GBT share is $40.69, that puts it up 12.59 from that peak though still a striking 53.49% gain since the share price plummeted to a 52-week low of $21.65. The company’s market capitalization is $2.30B, and the average intraday trading volume over the past 10 days was 0.93 million shares, and the average trade volume was 1.54 million shares over the past three months.

Global Blood Therapeutics Inc. (GBT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. GBT has a Sell rating from 0 analyst(s) out of 22 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 17 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.18.

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Global Blood Therapeutics Inc. (NASDAQ:GBT) trade information

Global Blood Therapeutics Inc. (GBT) registered a 37.20% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 37.20% in intraday trading to $46.55 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is -0.29%, and it has moved by 1.95% in 30 days. Based on these gigs, the overall price performance for the year is 26.18%. The short interest in Global Blood Therapeutics Inc. (NASDAQ:GBT) is 9.23 million shares and it means that shorts have 5.38 day(s) to cover.

The consensus price target of analysts on Wall Street is $58.35, which implies an increase of 20.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $31.00 and $102.00 respectively. As a result, GBT is trading at a discount of -119.12% off the target high and 33.4% off the low.

Global Blood Therapeutics Inc. (GBT) estimates and forecasts

Statistics show that Global Blood Therapeutics Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Global Blood Therapeutics Inc. (GBT) shares have gone up 15.68% during the last six months, with a year-to-date growth rate more than the industry average at 3.33% against 1.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -5.40% this quarter and then jump 2.70% in the quarter after that. In the rating firms’ projections, revenue will increase 41.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $64.39 million as predicted by 20 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to $73.24 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -14.20%. While earnings are projected to return -19.30% in 2022, the next five years will return 37.00% per annum.

GBT Dividends

Global Blood Therapeutics Inc. is due to release its next quarterly earnings between February 22 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Global Blood Therapeutics Inc. (NASDAQ:GBT)’s Major holders

Global Blood Therapeutics Inc. insiders own 2.72% of total outstanding shares while institutional holders control 116.13%, with the float percentage being 119.38%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 302 institutions own stock in it. As of Mar 30, 2022, the company held over 6.02 million shares (or 9.25% of all shares), a total value of $208.68 million in shares.

The next largest institutional holding, with 5.6 million shares, is of Janus Henderson Group PLC’s that is approximately 8.61% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $194.1 million.

Also, the Mutual Funds coming in first place with the largest holdings of Global Blood Therapeutics Inc. (GBT) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 3.16 million shares. This amounts to just over 4.86 percent of the company’s overall shares, with a $101.09 million market value. The same data shows that the other fund manager holds slightly less at 1.89 million, or about 2.90% of the stock, which is worth about $65.51 million.

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