Here’s Why Global Blood, Deutsche Bank, PayPal, and Two Other Stocks Are Trending Today

Global Blood Therapeutics Inc (NASDAQ:GBT) has spiked 21% after the company announced that it has reached an agreement with the FDA regarding the design of its pivotal trial for GBT440 in adolescents and adults with sickle cell disease. Due to the agreement, the company plans to start a phase 3 clinical trial, HOPE study, in December. The number of funds tracked by us with holdings in Global Blood Therapeutics Inc (NASDAQ:GBT) rose by five quarter-over-quarter to 20 at the end of June.

Chesapeake Energy Corporation (NYSE:CHK) is trending after RBC Capital analys Scott Hanold upgraded the stock to ‘Sector Perform’ from ‘Underperform’. Hanold also raised his price target to $8 per share from $7, citing the company’s lower costs, balance sheet enhancements, and its more robust long term margin outlook. Although some bearish traders may still disagree, Hanold thinks management’s debt reduction goals are also ‘achievable’. At the end of June, 31 investors followed by Insider Monkey were long Chesapeake Energy Corporation (NYSE:CHK), unchanged over the quarter.

Deutsche Bank AG (USA) (NYSE:DB) shares are 1.2% in the red after Sky News reported that the Department of Justice has hinted in recent days that the imposition of penalties for the mis-selling of mortgage securities could be postponed until closer to when the next U.S. President takes office. According to the article’s sources, “it was now becoming more likely that an announcement from the DoJ could slip beyond next month if it remained intent upon settling with all three banks simultaneously”. If that is the case, the uncertainty of Deutsche Bank might continue for longer than expected. A total of 15 funds from our database were long Deutsche Bank AG (USA) (NYSE:DB) at the end of June.

Disclosure: none