Precision BioSciences, Inc. (NASDAQ:DTIL – Get Rating) – Research analysts at HC Wainwright lowered their FY2023 earnings estimates for shares of Precision BioSciences in a report released on Wednesday, March 15th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings per share of ($0.87) for the year, down from their previous forecast of ($0.82). HC Wainwright has a “Buy” rating and a $17.00 price objective on the stock. The consensus estimate for Precision BioSciences’ current full-year earnings is ($0.91) per share. HC Wainwright also issued estimates for Precision BioSciences’ Q4 2023 earnings at ($0.21) EPS, FY2024 earnings at ($0.60) EPS and FY2027 earnings at $0.73 EPS.
Separately, BMO Capital Markets lowered shares of Precision BioSciences from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $7.00 to $4.00 in a report on Monday, March 13th.
Precision BioSciences Stock Down 2.1 %
Institutional Investors Weigh In On Precision BioSciences
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its position in shares of Precision BioSciences by 3,915.4% in the third quarter. Quantbot Technologies LP now owns 20,077 shares of the company’s stock worth $26,000 after purchasing an additional 19,577 shares during the last quarter. Acuta Capital Partners LLC bought a new position in shares of Precision BioSciences during the second quarter valued at $3,281,000. UBS Oconnor LLC increased its holdings in shares of Precision BioSciences by 11.9% during the third quarter. UBS Oconnor LLC now owns 492,517 shares of the company’s stock valued at $640,000 after acquiring an additional 52,517 shares in the last quarter. Zacks Investment Management bought a new position in shares of Precision BioSciences during the third quarter valued at $46,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Precision BioSciences by 463.2% during the third quarter. Penserra Capital Management LLC now owns 98,175 shares of the company’s stock valued at $127,000 after acquiring an additional 80,743 shares in the last quarter. 50.50% of the stock is owned by hedge funds and other institutional investors.
About Precision BioSciences
Precision BioSciences, Inc is a biotechnology company, which engages in the development of genome editing technologies. It operates through the Therapeutics and Food segments. The Therapeutics segment focuses on the development of products in the field of immuno-oncology and of novel products outside immuno-oncology to treat human diseases.
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