Graphite Bio (NASDAQ:GRPH) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Graphite Bio (NASDAQ:GRPH – Get Rating) in a research note issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada initiated coverage on shares of Graphite Bio in a research report on Thursday, February 17th. They issued a “sector perform” rating and a $11.00 price objective on the stock. SVB Leerink lowered their price objective on shares of Graphite Bio from $34.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, March 22nd. BTIG Research initiated coverage on shares of Graphite Bio in a report on Thursday, April 14th. They set a “buy” rating and a $18.00 target price for the company. Finally, Morgan Stanley cut shares of Graphite Bio from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $19.00 to $8.00 in a report on Tuesday, March 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $18.00.

Shares of Graphite Bio stock traded down $0.18 during trading on Thursday, hitting $2.15. The stock had a trading volume of 39,462 shares, compared to its average volume of 440,008. Graphite Bio has a 12 month low of $2.07 and a 12 month high of $34.00. The business’s 50-day moving average is $3.16 and its 200 day moving average is $7.13. The firm has a market cap of $124.64 million and a price-to-earnings ratio of -0.47.

Graphite Bio (NASDAQ:GRPH – Get Rating) last released its quarterly earnings results on Monday, March 21st. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). On average, sell-side analysts expect that Graphite Bio will post -1.83 earnings per share for the current fiscal year.

In related news, major shareholder Biocapital L.P. Samsara purchased 74,464 shares of the business’s stock in a transaction dated Monday, April 11th. The stock was acquired at an average price of $4.07 per share, for a total transaction of $303,068.48. Following the acquisition, the insider now directly owns 8,109,314 shares of the company’s stock, valued at approximately $33,004,907.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. acquired a new stake in shares of Graphite Bio in the third quarter worth approximately $31,000. Royal Bank of Canada boosted its position in shares of Graphite Bio by 5,887.5% in the third quarter. Royal Bank of Canada now owns 1,916 shares of the company’s stock worth $32,000 after acquiring an additional 1,884 shares during the last quarter. Strs Ohio boosted its position in shares of Graphite Bio by 89.2% in the first quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $35,000 after acquiring an additional 3,300 shares during the last quarter. UBS Group AG acquired a new stake in shares of Graphite Bio in the third quarter worth approximately $41,000. Finally, Walleye Capital LLC acquired a new stake in shares of Graphite Bio in the first quarter worth approximately $57,000. Institutional investors and hedge funds own 59.87% of the company’s stock.

Graphite Bio Company Profile (Get Rating)

Graphite Bio, Inc, a clinical-stage gene editing company, engages in developing therapies for serious and life-threatening diseases in the United States. It offers GPH101, a gene-edited autologous hematopoietic stem cell product candidate to directly correct the mutation that causes sickle cell disease and restore normal adult hemoglobin expression; GPH201 for the treatment of X-linked severe combined immunodeficiency syndrome; and GPH301, a product candidate for the treatment of Gaucher disease, a genetic disorder that results in a deficiency in the glucocerebrosidase enzyme.

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