Cantor Fitzgerald Weighs in on Graphite Bio, Inc.’s FY2022 Earnings (NASDAQ:GRPH)

Graphite Bio, Inc. (NASDAQ:GRPHGet Rating) – Analysts at Cantor Fitzgerald issued their FY2022 earnings estimates for shares of Graphite Bio in a report issued on Thursday, September 15th. Cantor Fitzgerald analyst O. Brayer expects that the company will post earnings per share of ($1.45) for the year. Cantor Fitzgerald has a “Overweight” rating and a $12.00 price objective on the stock. The consensus estimate for Graphite Bio’s current full-year earnings is ($1.80) per share. Cantor Fitzgerald also issued estimates for Graphite Bio’s FY2023 earnings at ($1.39) EPS.

Other analysts have also issued reports about the stock. SVB Leerink reiterated an “outperform” rating on shares of Graphite Bio in a research report on Friday, August 12th. BMO Capital Markets started coverage on shares of Graphite Bio in a research report on Thursday, June 16th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Graphite Bio from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Graphite Bio Stock Performance

Shares of Graphite Bio stock opened at $3.44 on Monday. The firm’s 50-day simple moving average is $3.50 and its 200-day simple moving average is $3.88. Graphite Bio has a twelve month low of $2.07 and a twelve month high of $20.44. The firm has a market cap of $200.25 million, a P/E ratio of -2.16 and a beta of 0.18.

Graphite Bio (NASDAQ:GRPHGet Rating) last issued its earnings results on Thursday, August 11th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.01.

Hedge Funds Weigh In On Graphite Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio boosted its position in Graphite Bio by 89.2% in the first quarter. Strs Ohio now owns 7,000 shares of the company’s stock valued at $35,000 after buying an additional 3,300 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Graphite Bio in the first quarter worth about $57,000. Prelude Capital Management LLC bought a new position in shares of Graphite Bio in the second quarter worth about $67,000. American International Group Inc. raised its stake in shares of Graphite Bio by 69.7% in the first quarter. American International Group Inc. now owns 14,656 shares of the company’s stock worth $75,000 after acquiring an additional 6,020 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Graphite Bio in the first quarter worth about $103,000. 51.83% of the stock is currently owned by institutional investors and hedge funds.

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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