Global Blood Therapeutics Inc. (NASDAQ: GBT) stock jumped 33.03% on Friday to $63.84 against a previous-day closing price of $47.99. With 13.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.65 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $72.99 whereas the lowest price it dropped to was $46.69. The 52-week range on GBT shows that it touched its highest point at $48.49 and its lowest point at $21.65 during that stretch. It currently has a 1-year price target of $59.53. Beta for the stock currently stands at 0.83.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GBT was up-trending over the past week, with a rise of 95.11%, but this was up by 85.47% over a month. Three-month performance surged to 115.75% while six-month performance rose 134.10%. The stock gained 91.19% in the past year, while it has gained 118.11% so far this year. A look at the trailing 12-month EPS for GBT yields -4.86 with Next year EPS estimates of -2.80. For the next quarter, that number is -1.18. This implies an EPS growth rate of -19.30% for this year and 39.10% for next year. EPS is expected to grow by 37.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -14.20%.
Float and Shares Shorts:
At present, 64.84 million GBT shares are outstanding with a float of 59.43 million shares on hand for trading. On Jul 14, 2022, short shares totaled 9.23 million, which was 14.18% higher than short shares on Jun 14, 2022. In addition to Dr. Ted W. Love M.D. as the firm’s Pres, CEO & Director, Mr. Jeffrey S. Farrow serves as its CFO & Principal Accounting Officer.
Institutional Ownership:
Through their ownership of 116.13% of GBT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.24% of GBT, in contrast to 49.48% held by mutual funds. Shares owned by individuals account for 15.30%. As the largest shareholder in GBT with 9.01% of the stake, The Vanguard Group, Inc. holds 5,863,898 shares worth 5,863,898. A second-largest stockholder of GBT, Janus Henderson Investors US LLC, holds 5,592,248 shares, controlling over 8.59% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GBT, holding 4,035,086 shares or 6.20% stake. With a 4.90% stake in GBT, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 3,189,753 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.94% of GBT stock, is the second-largest Mutual Fund holder. It holds 1,914,910 shares valued at 61.18 million. Janus Henderson Triton Fund holds 2.53% of the stake in GBT, owning 1,645,452 shares worth 52.57 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GBT since 21 analysts follow the stock currently. There are 16 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GBT analysts setting a high price target of $102.00 and a low target of $31.00, the average target price over the next 12 months is $58.84. Based on these targets, GBT could surge 59.77% to reach the target high and fall by -51.44% to reach the target low. Reaching the average price target will result in a decline of -7.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GBT will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of -$3.89 being high and -$5.65 being low. For GBT, this leads to a yearly average estimate of -$4.60. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Global Blood Therapeutics Inc. surprised analysts by $0.05 when it reported -$1.26 EPS against a consensus estimate of -$1.31. The surprise factor in the prior quarter was -$0.23. Based on analyst estimates, the high estimate for the next quarter is -$1.02 and the low estimate is -$1.45. The average estimate for the next quarter is thus -$1.18.
Summary of Insider Activity:
Insiders traded GBT stock several times over the past three months with 9 Buys and 3 Sells. In these transactions, 32,148 shares were bought while 4,828 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 154,091 while 56,669 shares were sold.
