Graphite Bio, Inc. (NASDAQ:GRPH) to Post Q4 2023 Earnings of ($0.16) Per Share, Leerink Partnrs Forecasts

Graphite Bio, Inc. (NASDAQ:GRPH) – Research analysts at Leerink Partnrs decreased their Q4 2023 EPS estimates for Graphite Bio in a research report issued on Monday, November 13th. Leerink Partnrs analyst M. Foroohar now expects that the company will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.09). The consensus estimate for Graphite Bio’s current full-year earnings is ($1.67) per share.

Graphite Bio Stock Performance

Shares of Graphite Bio stock opened at $2.26 on Thursday. The stock has a market capitalization of $130.74 million, a price-to-earnings ratio of -0.98 and a beta of -0.05. Graphite Bio has a 1-year low of $1.59 and a 1-year high of $3.69. The firm’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.59.

Graphite Bio (NASDAQ:GRPH) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31).

Hedge Funds Weigh In On Graphite Bio

A number of large investors have recently modified their holdings of GRPH. SG Americas Securities LLC acquired a new position in shares of Graphite Bio during the third quarter worth approximately $31,000. Dimensional Fund Advisors LP acquired a new position in shares of Graphite Bio during the third quarter worth approximately $34,000. American International Group Inc. acquired a new position in shares of Graphite Bio during the second quarter worth approximately $35,000. Squarepoint Ops LLC acquired a new position in shares of Graphite Bio during the first quarter worth approximately $35,000. Finally, Wells Fargo & Company MN lifted its position in shares of Graphite Bio by 312.3% during the second quarter. Wells Fargo & Company MN now owns 13,838 shares of the company’s stock worth $36,000 after purchasing an additional 10,482 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About Graphite Bio

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.