Precision BioSciences (NASDAQ:DTIL) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research report sent to investors on Thursday morning,Benzinga reports.

DTIL has been the subject of several other research reports. JonesTrading reiterated a “buy” rating and set a $30.00 target price on shares of Precision BioSciences in a research report on Friday, April 17th. Oppenheimer started coverage on Precision BioSciences in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $20.00 price target on the stock. Weiss Ratings upgraded Precision BioSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. Wall Street Zen raised Precision BioSciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Precision BioSciences in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Precision BioSciences currently has an average rating of “Moderate Buy” and an average target price of $32.25.

Precision BioSciences Stock Down 1.3%

Shares of NASDAQ:DTIL opened at $9.16 on Thursday. Precision BioSciences has a one year low of $3.53 and a one year high of $9.62. The company has a 50 day moving average of $7.27 and a 200-day moving average of $5.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 14.02 and a quick ratio of 14.02. The stock has a market cap of $236.33 million, a price-to-earnings ratio of -2.50 and a beta of 1.25.

Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). Precision BioSciences had a negative return on equity of 85.37% and a negative net margin of 96.73%.The business had revenue of $10.84 million for the quarter, compared to the consensus estimate of $4.05 million. On average, sell-side analysts forecast that Precision BioSciences will post -2.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Precision BioSciences by 5.5% in the second quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock valued at $326,000 after acquiring an additional 4,025 shares during the period. Miller Financial Services LLC raised its position in shares of Precision BioSciences by 50.0% during the fourth quarter. Miller Financial Services LLC now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares during the period. Lynx1 Capital Management LP raised its position in shares of Precision BioSciences by 0.6% during the third quarter. Lynx1 Capital Management LP now owns 1,042,596 shares of the company’s stock worth $5,755,000 after purchasing an additional 6,545 shares during the period. Quarry LP lifted its holdings in shares of Precision BioSciences by 15.1% during the 4th quarter. Quarry LP now owns 68,311 shares of the company’s stock valued at $284,000 after purchasing an additional 8,936 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in shares of Precision BioSciences during the 4th quarter valued at about $38,000. 37.99% of the stock is currently owned by institutional investors.

About Precision BioSciences

Precision BioSciences is a clinical‐stage genome editing company that leverages its proprietary ARCUS platform to develop targeted gene therapies. ARCUS, an engineered nuclease derived from a naturally occurring enzyme, enables precise DNA modifications for both in vivo and ex vivo applications. The company’s pipeline spans genetic diseases—including rare monogenic disorders—and immuno‐oncology, where it is advancing allogeneic cell therapy candidates designed to address hematologic malignancies and solid tumors.

Founded in 2006 as a spin‐out from research at the University of North Carolina, Precision BioSciences is headquartered in Durham, North Carolina, with additional research and manufacturing capabilities located in the Research Triangle Park area.