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

HC Wainwright reiterated their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research note published on Wednesday morning, Benzinga reports. HC Wainwright currently has a $60.00 target price on the stock.

Precision BioSciences Stock Down 9.1 %

Shares of DTIL opened at $9.74 on Wednesday. The firm has a market cap of $67.40 million, a price-to-earnings ratio of -0.61 and a beta of 1.53. The company’s fifty day moving average is $12.95 and its 200-day moving average is $11.74. Precision BioSciences has a 12 month low of $8.25 and a 12 month high of $27.90.

Precision BioSciences (NASDAQ:DTIL) 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). Precision BioSciences had a negative return on equity of 204.66% and a negative net margin of 125.84%. The business had revenue of $7.04 million during the quarter, compared to the consensus estimate of $28.50 million. As a group, research analysts predict that Precision BioSciences will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Precision BioSciences news, CEO Michael Amoroso sold 4,579 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $10.80, for a total transaction of $49,453.20. Following the transaction, the chief executive officer now owns 11,881 shares in the company, valued at $128,314.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 6,005 shares of company stock worth $64,854. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Precision BioSciences

A number of hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC lifted its position in shares of Precision BioSciences by 70.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 19,333 shares of the company’s stock worth $25,000 after purchasing an additional 7,967 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Precision BioSciences by 9.5% during the first quarter. Swiss National Bank now owns 114,900 shares of the company’s stock worth $354,000 after buying an additional 10,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Precision BioSciences during the first quarter worth approximately $34,000. Quantbot Technologies LP bought a new stake in shares of Precision BioSciences in the first quarter valued at approximately $35,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Precision BioSciences by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 362,455 shares of the company’s stock worth $1,117,000 after acquiring an additional 12,847 shares during the last quarter. 37.99% of the stock is currently owned by institutional investors.

About Precision BioSciences

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.