BTIG Research downgraded shares of Graphite Bio (NASDAQ:GRPH – Get Rating) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.
GRPH has been the topic of several other reports. SVB Leerink lowered shares of 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 research report on Friday, January 6th. Bank of America lowered shares of 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 research report on Wednesday, January 18th. BMO Capital Markets lowered shares of 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 research report on Friday, January 6th. Finally, Royal Bank of Canada decreased their price objective on shares of Graphite Bio from $11.00 to $4.00 and set a sector perform rating on the stock in a research report on Friday, January 6th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Graphite Bio presently has an average rating of Hold and a consensus target price of $7.43.
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Graphite Bio Stock Performance
Shares of NASDAQ GRPH opened at $1.94 on Tuesday. The firm has a market capitalization of $112.81 million, a P/E ratio of -1.10 and a beta of 0.39. Graphite Bio has a one year low of $1.59 and a one year high of $11.30. The company's fifty day moving average is $2.82 and its two-hundred day moving average is $3.21.
Graphite Bio (NASDAQ:GRPH – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. On average, sell-side analysts forecast that Graphite Bio will post -1.88 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Prelude Capital Management LLC acquired a new position in Graphite Bio in the 2nd quarter valued at about $67,000. Walleye Capital LLC acquired a new position in Graphite Bio in the 1st quarter valued at about $57,000. Jane Street Group LLC acquired a new position in Graphite Bio in the 3rd quarter valued at about $37,000. Dimensional Fund Advisors LP acquired a new position in shares of Graphite Bio during the 3rd quarter valued at about $34,000. Finally, Prosight Management LP acquired a new position in shares of Graphite Bio during the 3rd quarter valued at about $1,130,000. Institutional investors and hedge funds own 52.51% 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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