Shares of Graphite Bio, Inc. (NASDAQ:GRPH – Get Rating) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $18.00.
Several research analysts recently issued reports on GRPH shares. BTIG Research started coverage on shares of Graphite Bio in a research report on Thursday, April 14th. They issued a “buy” rating and a $18.00 price target for the company. Morgan Stanley lowered shares of Graphite Bio from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $19.00 to $8.00 in a report on Tuesday, March 22nd. Royal Bank of Canada initiated coverage on shares of Graphite Bio in a report on Thursday, February 17th. They set a “sector perform” rating and a $11.00 price objective for the company. SVB Leerink dropped their price objective on shares of Graphite Bio from $34.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, March 22nd. Finally, Zacks Investment Research lowered shares of Graphite Bio from a “hold” rating to a “sell” rating in a report on Tuesday.
In related news, major shareholder Biocapital L.P. Samsara purchased 74,464 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was acquired at an average price of $4.07 per share, with a total value of $303,068.48. Following the completion of the acquisition, the insider now directly owns 8,109,314 shares in the company, valued at approximately $33,004,907.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.
Shares of NASDAQ GRPH traded up $0.08 during mid-day trading on Friday, reaching $2.34. The company had a trading volume of 441,678 shares, compared to its average volume of 424,285. Graphite Bio has a twelve month low of $2.07 and a twelve month high of $34.00. The stock has a market capitalization of $135.65 million and a PE ratio of -0.51. The stock’s 50 day moving average is $3.93 and its 200-day moving average is $7.90.
Graphite Bio (NASDAQ:GRPH – Get Rating) last issued its quarterly earnings data on Monday, March 21st. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). Sell-side analysts forecast that Graphite Bio will post -1.83 EPS for the current fiscal 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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