Graphite Bio (NASDAQ:GRPH – Get Rating) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $3.00 target price on the stock, down from their prior target price of $7.00. Bank of America‘s price target points to a potential upside of 54.64% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. BMO Capital Markets lowered Graphite Bio from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $14.00 to $7.00 in a research note on Friday, January 6th. SVB Leerink lowered Graphite Bio from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $11.00 to $2.00 in a research note on Friday, January 6th. Finally, Royal Bank of Canada reduced their price objective on Graphite Bio from $11.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, January 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.43.
Graphite Bio Trading Down 3.0 %
Shares of NASDAQ:GRPH opened at $1.94 on Wednesday. The stock’s 50-day moving average price is $3.01 and its two-hundred day moving average price is $3.25. Graphite Bio has a 12-month low of $1.59 and a 12-month high of $11.30. The firm has a market cap of $112.81 million, a price-to-earnings ratio of -1.10 and a beta of 0.38.
Hedge Funds Weigh In On Graphite Bio
Several hedge funds and other institutional investors have recently bought and sold shares of GRPH. Dimensional Fund Advisors LP acquired a new position in Graphite Bio during the 3rd quarter worth approximately $34,000. Jane Street Group LLC purchased a new stake in Graphite Bio during the 3rd quarter worth approximately $37,000. ExodusPoint Capital Management LP purchased a new stake in Graphite Bio during the 3rd quarter worth approximately $41,000. Walleye Capital LLC purchased a new stake in Graphite Bio during the 1st quarter worth approximately $57,000. Finally, Prelude Capital Management LLC purchased a new stake in Graphite Bio during the 2nd quarter worth approximately $67,000. 52.51% of the stock is owned by institutional investors and hedge funds.
Graphite Bio Company Profile
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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