Thomas Steyer’s Farallon Capital is Buying These 5 Stocks

4. Global Blood Therapeutics, Inc. (NASDAQ:GBT)

Number of Hedge Fund Holders: 30

Global Blood Therapeutics, Inc. (NASDAQ:GBT) was incorporated in 2011 and is headquartered in South San Francisco, California. The biopharmaceutical company develops treatments for sickle cell disease. Global Blood Therapeutics, Inc. (NASDAQ:GBT) is a new addition to Thomas Steyer’s Farallon Capital portfolio. The hedge fund purchased 86,454 shares of the company in Q4 2021, worth $2.5 million. 

On March 28, Wedbush analyst Andreas Argyrides assumed coverage of Global Blood Therapeutics, Inc. (NASDAQ:GBT) with an Outperform rating but slashed the price target on the shares to $71 from $138. The analyst believes increased awareness of real-world benefit could help reaccelerate sales of Oxbryta, a prescription medicine for the treatment of sickle cell disease. Further, high switch rate and low discontinuations drive prescriber and patient adoption of Oxbryta, the analyst contended. 

According to Insider Monkey’s Q4 data, Joseph Edelman’s Perceptive Advisors is the biggest shareholder of Global Blood Therapeutics, Inc. (NASDAQ:GBT), with a position worth approximately $101 million. Overall, 30 hedge funds were bullish on the stock at the end of December 2021.