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.