Precision BioSciences (NASDAQ:DTIL) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Precision BioSciences (NASDAQ:DTIL) announced its quarterly earnings results on Tuesday. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.20, Zacks reports. Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 72.52%.

Precision BioSciences Stock Up 1.5%

DTIL stock traded up $0.10 during trading on Tuesday, reaching $7.05. 39,898 shares of the company traded hands, compared to its average volume of 305,742. Precision BioSciences has a 12 month low of $3.53 and a 12 month high of $9.62. The business has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $6.52. The company has a market capitalization of $194.61 million, a price-to-earnings ratio of -2.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 12.82 and a current ratio of 12.82.

Analyst Ratings Changes

A number of equities analysts have commented on DTIL shares. HC Wainwright reissued a “buy” rating on shares of Precision BioSciences in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Precision BioSciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precision BioSciences in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

About Precision BioSciences

Precision BioSciences, Inc is a biotechnology company developing gene-editing medicines using its proprietary ARCUS platform. ARCUS is based on engineered DNA-cutting enzymes designed to make targeted changes to genetic material, with the potential to remove, insert or correct DNA sequences in human cells.

The company’s research and development activities have focused primarily on in vivo gene editing, in which therapeutic editing components are delivered directly into the body. Its development programs have included potential treatments for conditions such as chronic hepatitis B infection, Duchenne muscular dystrophy and certain rare genetic disorders.