The four-year-old colt was a well-fancied 7/1 shot for the six-furlong Group One on the back of solid victories in the Cammidge Trophy and Duke Of York Stakes.
He could not make an impression in the closing stages and met with his first defeat of the season, finishing seventh to Blue Point.
However, trainer James Tate reports the son of Invincible Spirit to have taken the race well.
"He's come out of it in great order. He was a little bit disappointing obviously - maybe Ascot is not just the place for him," said the Newmarket handler.
"He's back out again on Saturday in the Chipchase. He seems fresh and well, so that's the plan."
The Group Three Chipchase has attracted 13 entries - including the Richard Fahey-trained Mr Lupton, winner of the Group Two Greenlands Stakes at the Curragh last month.
Tate also intends giving New Graduate a quick turnaround, after he failed to handle the rain-softened ground when a well-beaten 11/2 joint-favourite in the Royal Hunt Cup.
The Gettingbet Midsummer Stakes at Windsor is the target for the lightly-raced New Graduate, who had looked highly-promising when romping to victory on his seasonal debut at Ripon in April.
"It was just too soft for him, I think, and Frankie (Dettori) hacked him home," said Tate.
"He's in really good form too, so he's going to go for a Listed race at Windsor on Saturday."
"They were well prepared for Ascot. Things didn't go their way, so they will both be back out again."
Of the 17 entries over a mile at Windsor, six are trained by Mark Johnston - Cardsharp, Dark Vision, Marie's Diamond, Matterhorn, Nyaleti and Threading.
Breton Rock, Oh This Is Us and Robin Of Navan are also possibles.
