Graphite Bio, Inc. (NASDAQ:GRPH) Receives Average Rating of “Hold” from Brokerages

Graphite Bio, Inc. (NASDAQ:GRPHGet Rating) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.43.

A number of equities analysts have issued reports on GRPH shares. BMO Capital Markets downgraded Graphite Bio from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $14.00 to $7.00 in a report on Friday, January 6th. Royal Bank of Canada decreased their price objective on Graphite Bio from $11.00 to $4.00 and set a “sector perform” rating for the company in a report on Friday, January 6th. SVB Leerink downgraded Graphite Bio from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $11.00 to $2.00 in a report on Friday, January 6th. Finally, Bank of America downgraded Graphite Bio from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $3.00 in a report on Wednesday.

Institutional Investors Weigh In On Graphite Bio

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new stake in shares of Graphite Bio in the third quarter worth $34,000. Walleye Capital LLC purchased a new stake in shares of Graphite Bio during the first quarter valued at $57,000. Jane Street Group LLC purchased a new stake in shares of Graphite Bio during the third quarter valued at $37,000. ExodusPoint Capital Management LP purchased a new stake in shares of Graphite Bio during the third quarter valued at $41,000. Finally, American International Group Inc. boosted its position in shares of Graphite Bio by 69.7% during the first quarter. American International Group Inc. now owns 14,656 shares of the company’s stock valued at $75,000 after buying an additional 6,020 shares during the last quarter. 52.51% of the stock is owned by hedge funds and other institutional investors.

Graphite Bio Stock Down 0.5 %

Shares of Graphite Bio stock opened at $1.93 on Friday. The business has a 50 day moving average of $2.98 and a 200 day moving average of $3.25. The company has a market cap of $112.23 million, a PE ratio of -1.10 and a beta of 0.38. Graphite Bio has a 52 week low of $1.59 and a 52 week high of $11.30.

Graphite Bio (NASDAQ:GRPHGet Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. On average, research analysts anticipate that Graphite Bio will post -1.83 earnings per share for the current year.

About Graphite Bio

(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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