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Cowen downgrades Graphite Bio on ‘uncertain strategy’ after update
The Fly

Cowen downgrades Graphite Bio on ‘uncertain strategy’ after update

Cowen analyst Phil Nadeau downgraded Graphite Bio to Market Perform from Outperform without a price target. The company decided to discontinue internal development of nula-cel for sickle cell disease, initiate a process for strategic alternatives, and reduce its workforce, the analyst tells investors in a research note. The firm cites an "uncertain strategy" and no clinical candidates for the downgrade of Graphite Bio.

Published first on TheFly

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