Posted by admin on Jul 22nd, 2022

Graphite Bio, Inc. (NASDAQ:GRPH – Get Rating) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,470,000 shares, a decrease of 20.1% from the June 15th total of 3,090,000 shares. Based on an average daily trading volume, of 703,400 shares, the days-to-cover ratio is presently 3.5 days. Currently, 10.3% of the shares of the stock are sold short.

Several brokerages have weighed in on GRPH. Morgan Stanley decreased their price objective on shares of Graphite Bio from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. BTIG Research initiated coverage on shares of Graphite Bio in a research note on Thursday, April 14th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Graphite Bio presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Several large investors have recently bought and sold shares of the business. Samsara BioCapital LLC lifted its holdings in Graphite Bio by 5.7% in the fourth quarter. Samsara BioCapital LLC now owns 7,851,933 shares of the company’s stock valued at $97,600,000 after buying an additional 420,310 shares during the period. BlackRock Inc. lifted its holdings in Graphite Bio by 39.8% in the first quarter. BlackRock Inc. now owns 1,694,506 shares of the company’s stock valued at $8,642,000 after buying an additional 482,238 shares during the period. Vanguard Group Inc. lifted its holdings in Graphite Bio by 71.7% in the first quarter. Vanguard Group Inc. now owns 1,202,755 shares of the company’s stock valued at $6,135,000 after buying an additional 502,381 shares during the period. OUP Management Co. LLC acquired a new position in Graphite Bio in the fourth quarter valued at approximately $5,050,000. Finally, State Street Corp lifted its holdings in Graphite Bio by 25.7% in the first quarter. State Street Corp now owns 322,392 shares of the company’s stock valued at $1,644,000 after buying an additional 65,910 shares during the period. 59.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of GRPH stock opened at $3.29 on Friday. Graphite Bio has a 1 year low of $2.07 and a 1 year high of $26.56. The firm’s 50 day moving average is $2.67 and its 200-day moving average is $5.71. The firm has a market capitalization of $190.72 million and a price-to-earnings ratio of -0.72.

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

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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