Graphite Bio climbs while BMO starts with $ 12 target (NASDAQ: GRPH)

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Biotechnological graphite at clinical stage (NASDAQ:GRPH) traded sharply higher on Friday after BMO Capital Markets began its coverage with an Outperform rating and a target of $ 12 per share, implying a premium of ~ 461% at the last close.

Analyst Costas Biliuris highlights the company’s gene editing method, noting that it is less vulnerable to errors than first-generation approaches.

graphite (GRPH) optimizes the approach to achieve editing efficiency, ensuring that the method leads to a therapeutic effect, the analyst added.

“Taken together, the Graphite platform is expected to be more secure than existing approaches, while maintaining a high enough efficiency,” he wrote.

In addition, Biliouris notes that the company’s sickle cell disease flagship program, unlike competing programs, directly corrects the disease-causing mutation, a process with a higher potential to prevent organ damage.

Before: Costas Biliuris chose Legend Biotech (He lay down) and Verve TherapeuticsVERV) as his best choice in biotechnology.

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