Market Analysts see Global Blood Therapeutics Inc. [GBT] falling to $71. Time to buy?

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Global Blood Therapeutics Inc. [NASDAQ: GBT] stock went on a downward path that fall over -7.96% on Thursday, amounting to a one-week price decrease of less than -7.62%.

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Over the last 12 months, GBT stock dropped by -22.60%. The one-year Global Blood Therapeutics Inc. stock forecast points to a potential upside of 52.03. The average equity rating for GBT stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.00 billion, with 64.51 million shares outstanding and 59.65 million shares in the current float. Compared to the average trading volume of 1.04M shares, GBT stock reached a trading volume of 3355596 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Global Blood Therapeutics Inc. [GBT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GBT shares is $61.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GBT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Global Blood Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 28, 2022. The new note on the price target was released on December 07, 2021, representing the official price target for Global Blood Therapeutics Inc. stock. Previously, the target price had yet another raise to $68, while Jefferies analysts kept a Buy rating on GBT stock.

The Average True Range (ATR) for Global Blood Therapeutics Inc. is set at 2.03, with the Price to Sales ratio for GBT stock in the period of the last 12 months amounting to 10.28. The Price to Book ratio for the last quarter was 9.73, with the Price to Cash per share for the same quarter was set at 10.12.

GBT Stock Performance Analysis:

Global Blood Therapeutics Inc. [GBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.62. With this latest performance, GBT shares dropped by -20.86% in over the last four-week period, additionally sinking by -26.50% over the last 6 months – not to mention a drop of -22.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GBT stock in for the last two-week period is set at 36.61, with the RSI for the last a single of trading hit 30.77, and the three-weeks RSI is set at 40.95 for Global Blood Therapeutics Inc. [GBT]. The present Moving Average for the last 50 days of trading for this stock 32.54, while it was recorded at 31.31 for the last single week of trading, and 30.36 for the last 200 days.

Insight into Global Blood Therapeutics Inc. Fundamentals:

Global Blood Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.50 and a Current Ratio set at 9.10.

GBT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GBT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Global Blood Therapeutics Inc. go to 37.00%.

Global Blood Therapeutics Inc. [GBT] Insider Position Details

There are presently around $2,153 million, or 96.98% of GBT stock, in the hands of institutional investors. The top three institutional holders of GBT stocks are: VANGUARD GROUP INC with ownership of 5,993,142, which is approximately 3.074% of the company’s market cap and around 1.70% of the total institutional ownership; JANUS HENDERSON GROUP PLC, holding 5,483,164 shares of the stock with an approximate value of $176.28 million in GBT stocks shares; and BLACKROCK INC., currently with $172.1 million in GBT stock with ownership of nearly -7.246% of the company’s market capitalization.

116 institutional holders increased their position in Global Blood Therapeutics Inc. [NASDAQ:GBT] by around 13,518,886 shares. Additionally, 91 investors decreased positions by around 10,108,865 shares, while 28 investors held positions by with 43,339,686 shares. The mentioned changes placed institutional holdings at 66,967,437 shares, according to the latest SEC report filing. GBT stock had 48 new institutional investments in for a total of 7,124,535 shares, while 27 institutional investors sold positions of 794,945 shares during the same period.