Precision BioSciences (NASDAQ:DTIL) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Precision BioSciences (NASDAQ:DTILFree Report) in a research report report published on Thursday morning, Benzinga reports. They currently have a $60.00 target price on the stock.

Separately, Guggenheim began coverage on Precision BioSciences in a report on Tuesday, April 30th. They set a buy rating and a $19.00 target price on the stock.

Read Our Latest Stock Analysis on Precision BioSciences

Precision BioSciences Stock Up 0.6 %

NASDAQ:DTIL opened at $12.90 on Thursday. Precision BioSciences has a 12-month low of $8.25 and a 12-month high of $27.00. The stock’s fifty day simple moving average is $12.18 and its 200-day simple moving average is $12.06. The firm has a market capitalization of $89.40 million, a P/E ratio of -1.73 and a beta of 1.62.

Precision BioSciences (NASDAQ:DTILGet Free Report) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($3.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($6.35). The firm had revenue of $7.04 million for the quarter, compared to analyst estimates of $28.50 million. Precision BioSciences had a negative net margin of 48.10% and a negative return on equity of 131.69%. As a group, equities research analysts expect that Precision BioSciences will post -2.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in Precision BioSciences in the 1st quarter valued at $7,739,000. Tejara Capital Ltd raised its stake in shares of Precision BioSciences by 100.7% in the 3rd quarter. Tejara Capital Ltd now owns 398,614 shares of the company’s stock valued at $136,000 after purchasing an additional 200,000 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Precision BioSciences by 8.3% in the third quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company’s stock valued at $1,073,000 after purchasing an additional 242,425 shares in the last quarter. Institutional investors and hedge funds own 37.99% of the company’s stock.

About Precision BioSciences

(Get Free Report)

Precision BioSciences, Inc, an advanced gene editing company, develops in vivo gene editing therapies for gene edits, including gene elimination, insertion, and excision in the United States. The company offers ARCUS, a genome editing platform to DNA genome insertion, deletion, and repair. It also provides PBGENE-HBV for the treatment of chronic hepatitis B virus (HBV) to eliminate covalently closed circular DNA with direct cuts and edits as well as to inactivate integrated HBV DNA with the goal of long-lasting reductions in hepatitis B surface antigen; PBGENE-PMM for the treatment of m.3243 associated primary mitochondrial myopathy (PMM) which is expected to submit an IND and/or CTA.

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