Is Global Blood Therapeutics Inc (GBT) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. It’s worth mentioning that Christopher James’s Partner Fund Management sold off the largest stake of all the hedgies tracked by Insider Monkey, worth an estimated $17.1 million in stock. Hal Mintz’s fund, Sabby Capital, also dumped its stock, about $4.2 million worth.

Let’s also examine hedge fund activity in other stocks similar to Global Blood Therapeutics Inc (NASDAQ:GBT). These stocks are SP Plus Corp (NASDAQ:SP), Motorcar Parts of America, Inc. (NASDAQ:MPAA), Radware Ltd. (NASDAQ:RDWR), and Altisource Residential Corp (NYSE:RESI). This group of stocks’ market valuations resemble GBT’s market valuation.

As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $80 million, compared to $139 million in GBT’s case. Altisource Residential Corp (NYSE:RESI) is the most popular stock in this table, while SP Plus Corp (NASDAQ:SP) is the least popular one with only 10 investors holding shares. Compared to these stocks Global Blood Therapeutics Inc (NASDAQ:GBT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Suggested Articles:
Jobs For Police Officers In The Private Sector
Easiest Countries To Register A Company
Most Expensive Furniture Brands In The World

Disclosure: None