Cantor Fitzgerald analyst Olivia Brayer downgraded Graphite Bio to Neutral from Overweight with a price target of $3, down from $8, after the company announced yesterday that it’s officially discontinuing development of its lead program nula-cel for sickle cell disease, or SCD, and announced an associated corporate restructuring. The news "doesn’t come as a major surprise" after the recent safety setback from nula-cel, but the firm thinks the company is "facing an uphill battle from here."
Published first on TheFly
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