Cantor Fitzgerald Weighs in on Graphite Bio, Inc.’s FY2022 Earnings (NASDAQ:GRPH)

Graphite Bio, Inc. (NASDAQ:GRPHGet Rating) – Equities researchers at Cantor Fitzgerald issued their FY2022 earnings estimates for Graphite Bio in a report issued on Thursday, September 15th. Cantor Fitzgerald analyst O. Brayer forecasts that the company will post earnings per share of ($1.45) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $12.00 price target on the stock. The consensus estimate for Graphite Bio’s current full-year earnings is ($1.80) per share. Cantor Fitzgerald also issued estimates for Graphite Bio’s FY2023 earnings at ($1.39) EPS.

Graphite Bio (NASDAQ:GRPHGet Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.01.

Other analysts have also recently issued reports about the stock. SVB Leerink restated an “outperform” rating on shares of Graphite Bio in a report on Friday, August 12th. Morgan Stanley reduced their target price on shares of Graphite Bio from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Finally, BMO Capital Markets started coverage on shares of Graphite Bio in a report on Thursday, June 16th. They set an “outperform” rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Graphite Bio Stock Performance

Shares of NASDAQ:GRPH opened at $3.44 on Monday. The stock has a market capitalization of $200.25 million, a price-to-earnings ratio of -2.16 and a beta of 0.18. Graphite Bio has a 1-year low of $2.07 and a 1-year high of $20.44. The company has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.88.

Hedge Funds Weigh In On Graphite Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in Graphite Bio by 89.2% in the 1st quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $35,000 after purchasing an additional 3,300 shares during the period. Walleye Capital LLC purchased a new stake in Graphite Bio in the 1st quarter worth approximately $57,000. American International Group Inc. lifted its position in Graphite Bio by 69.7% in the 1st quarter. American International Group Inc. now owns 14,656 shares of the company’s stock worth $75,000 after buying an additional 6,020 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in Graphite Bio in the 4th quarter worth approximately $197,000. Finally, MetLife Investment Management LLC purchased a new stake in Graphite Bio in the 1st quarter worth approximately $103,000. Institutional investors and hedge funds own 51.83% of the company’s stock.

About Graphite Bio

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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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