Graphite Bio, Inc. (NASDAQ:GRPH – Get Free Report) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 801,800 shares, a decrease of 31.5% from the January 15th total of 1,170,000 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 177,600 shares, the days-to-cover ratio is presently 4.5 days.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Graphite Bio by 80.9% during the first quarter. JPMorgan Chase & Co. now owns 20,522 shares of the company’s stock worth $105,000 after purchasing an additional 9,178 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Graphite Bio by 67.3% during the first quarter. Bank of New York Mellon Corp now owns 76,598 shares of the company’s stock worth $391,000 after purchasing an additional 30,816 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Graphite Bio during the first quarter worth $103,000. Rhumbline Advisers raised its holdings in shares of Graphite Bio by 111.0% during the first quarter. Rhumbline Advisers now owns 24,660 shares of the company’s stock worth $126,000 after purchasing an additional 12,974 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Graphite Bio by 39.8% during the first quarter. BlackRock Inc. now owns 1,694,506 shares of the company’s stock worth $8,642,000 after purchasing an additional 482,238 shares during the period. 54.32% of the stock is currently owned by institutional investors.
Graphite Bio Price Performance
NASDAQ GRPH opened at $2.97 on Tuesday. Graphite Bio has a 12 month low of $2.01 and a 12 month high of $3.43. The company has a market capitalization of $172.26 million, a price-to-earnings ratio of -1.33 and a beta of 0.04. The company’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $2.47.
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 GPH102 for the treatment of beta-thalassemia; 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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