Posted by admin on Aug 13th, 2022

Shares of Graphite Bio, Inc. (NASDAQ:GRPH – Get Rating) shot up 2.3% during mid-day trading on Friday . The stock traded as high as $4.48 and last traded at $4.06. 380,992 shares were traded during mid-day trading, a decline of 17% from the average session volume of 460,286 shares. The stock had previously closed at $3.97.

Several equities analysts have recently weighed in on GRPH shares. Morgan Stanley decreased their price objective on Graphite Bio from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. BMO Capital Markets initiated coverage on shares of Graphite Bio in a research report on Thursday, June 16th. They set an “outperform” rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

The company’s 50-day moving average price is $3.02 and its two-hundred day moving average price is $4.96. The company has a market capitalization of $235.36 million, a P/E ratio of -0.89 and a beta of 0.37.

Graphite Bio (NASDAQ:GRPH – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). On average, analysts anticipate that Graphite Bio, Inc. will post -1.83 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in GRPH. Strs Ohio grew its position in Graphite Bio by 89.2% during the first quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $35,000 after buying an additional 3,300 shares in the last quarter. Walleye Capital LLC bought a new stake in Graphite Bio during the first quarter worth about $57,000. American International Group Inc. grew its stake in Graphite Bio by 69.7% during the first 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. Allspring Global Investments Holdings LLC acquired a new position in shares of Graphite Bio in the 4th quarter valued at approximately $83,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Graphite Bio during the 1st quarter worth approximately $103,000. Institutional investors and hedge funds own 59.87% of the company’s stock.

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.

Receive News & Ratings for Graphite Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graphite Bio and related companies with MarketBeat.com's FREE daily email newsletter.

Analyzing Offerpad Solutions (OPAD) & The Competition

Cabana Target Leading Sector Moderate ETF (NYSEARCA:CLSM) Trading 1.3% Higher