Gene editing firm Graphite Bio rises as analysts say "buy"
20/07/2021 14:28
** Graphite Bio GRPH.O shares up 2.6% at $28.25 premarket
as analysts start coverage with bullish ratings after IPO
research quiet period ceases
** Shares of the CRISPR specialist closed up 6.7% at $27.54,
up 62% from their Jun 24 IPO price of $17
** Morgan Stanley starts at "overweight" and $35 PT, saying
initial data has been encouraging in multiple indications with
co expected to begin human studies in 2H21 for sickle cell
disease
** SVB Leerink initiates at "outperform" and $34 PT, saying
GRPH's ex vivo gene editing approach based on homology-directed
repair (HDR) has potentially broad utility across base editing,
gene replacement and gene insertion
** Cowen also starts at "outperform"
** GPRH's stock jumped to as high as $34 on Jun 30 just days
after Intellia NTLA.O and partner Regeneron REGN.O posted
positive data from early-stage trial for NTLA's
CRISPR/Cas9-based therapy candidate urn:newsml:reuters.com:*:nL2N2OA1AA urn:newsml:reuters.com:*:nL3N2OA2N8
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))