Zacks Investment Research upgraded shares of Precision BioSciences (NASDAQ:DTIL) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $8.25 price objective on the stock.
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. “
A number of other analysts have also weighed in on DTIL. ValuEngine upgraded shares of Precision BioSciences from a hold rating to a buy rating in a research report on Wednesday, March 4th. Goldman Sachs Group lowered shares of Precision BioSciences from a buy rating to a neutral rating in a report on Thursday, April 2nd. Stifel Nicolaus assumed coverage on shares of Precision BioSciences in a report on Wednesday, March 4th. They set a buy rating and a $21.00 price target on the stock. HC Wainwright reiterated a buy rating and set a $19.00 price target on shares of Precision BioSciences in a report on Wednesday, April 8th. Finally, William Blair reiterated an outperform rating on shares of Precision BioSciences in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $17.56.
Shares of Precision BioSciences stock opened at $7.73 on Tuesday. Precision BioSciences has a fifty-two week low of $4.60 and a fifty-two week high of $23.67. The firm has a market capitalization of $404.77 million, a P/E ratio of -4.60 and a beta of 1.74. The company’s 50 day moving average price is $6.85 and its two-hundred day moving average price is $9.54.
Precision BioSciences (NASDAQ:DTIL) last issued its earnings results on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.01. Precision BioSciences had a negative net margin of 369.86% and a negative return on equity of 60.32%. The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $5.20 million. Research analysts expect that Precision BioSciences will post -2.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in DTIL. Edge Wealth Management LLC raised its stake in Precision BioSciences by 68.7% during the fourth quarter. Edge Wealth Management LLC now owns 6,747 shares of the company’s stock worth $94,000 after buying an additional 2,747 shares during the last quarter. Ikarian Capital LLC bought a new stake in Precision BioSciences in the fourth quarter valued at $1,111,000. Bailard Inc. bought a new stake in Precision BioSciences in the fourth quarter valued at $1,993,000. Victory Capital Management Inc. increased its stake in Precision BioSciences by 119.2% in the fourth quarter. Victory Capital Management Inc. now owns 605,453 shares of the company’s stock valued at $4,898,000 after purchasing an additional 329,268 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Precision BioSciences by 35.7% in the fourth quarter. Principal Financial Group Inc. now owns 230,000 shares of the company’s stock valued at $3,195,000 after purchasing an additional 60,500 shares in the last quarter. 54.75% of the stock is owned by institutional investors and hedge funds.
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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