Precision BioSciences (NASDAQ:DTIL) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Precision BioSciences (NASDAQ:DTIL) from a buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

According to Zacks, “Precision BioSciences, Inc. operates as a genome editing company and develops therapeutic products primarily in the United States. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. Precision BioSciences Inc. is based in Durham, North Carolina. “

Other equities research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a buy rating and issued a $21.00 price objective on shares of Precision BioSciences in a research report on Wednesday, November 13th. BTIG Research assumed coverage on Precision BioSciences in a research note on Friday, August 9th. They issued a buy rating and a $22.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $21.17.

DTIL stock opened at $16.91 on Monday. Precision BioSciences has a one year low of $6.24 and a one year high of $19.00. The company has a 50 day moving average price of $9.90 and a two-hundred day moving average price of $10.95.

Precision BioSciences (NASDAQ:DTIL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.15. Precision BioSciences had a negative return on equity of 78.51% and a negative net margin of 423.14%. The company had revenue of $4.87 million during the quarter, compared to the consensus estimate of $5.25 million. As a group, sell-side analysts expect that Precision BioSciences will post -1.42 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in DTIL. Millennium Management LLC purchased a new position in Precision BioSciences in the third quarter valued at approximately $113,000. Squarepoint Ops LLC acquired a new position in shares of Precision BioSciences in the 3rd quarter worth approximately $351,000. IHT Wealth Management LLC bought a new stake in Precision BioSciences during the third quarter valued at $93,000. State Street Corp raised its stake in Precision BioSciences by 1.7% during the third quarter. State Street Corp now owns 142,527 shares of the company’s stock worth $1,196,000 after acquiring an additional 2,359 shares during the period. Finally, MUFG Americas Holdings Corp lifted its holdings in shares of Precision BioSciences by 71.4% in the 3rd quarter. MUFG Americas Holdings Corp now owns 6,593 shares of the company’s stock worth $55,000 after purchasing an additional 2,747 shares during the last quarter. Hedge funds and other institutional investors own 44.04% of the company’s stock.

Precision BioSciences Company Profile

Precision BioSciences, Inc operates as a genome editing company and develops therapeutic products in the United States. It operates through two segments, Therapeutic and Food. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.

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Analyst Recommendations for Precision BioSciences (NASDAQ:DTIL)

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