Precision BioSciences (NASDAQ:DTIL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Precision BioSciences from “sell” to “hold.” Overall, analysts have a “Moderate Buy” consensus and a $32.25 average price target, with four Buy ratings and one Sell.
• DTIL shares rose 7.4% and opened at $10.60; the stock’s 12-month range is $3.53–$11.29.
• The company reported a quarterly loss of $0.28 per share, narrower than analysts’ expected loss of $0.85, but revenue of $1.25 million fell short of the $1.38 million estimate.

Precision BioSciences (NASDAQ:DTIL - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently weighed in on DTIL. HC Wainwright reiterated a "buy" rating on shares of Precision BioSciences in a report on Monday, August 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Precision BioSciences in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

Precision BioSciences Stock Up 7.4%

DTIL stock opened at $10.60 on Friday. Precision BioSciences has a 12 month low of $3.53 and a 12 month high of $11.29. The company has a quick ratio of 12.82, a current ratio of 12.82 and a debt-to-equity ratio of 0.50. The firm's fifty day simple moving average is $6.90 and its 200-day simple moving average is $6.62.

Precision BioSciences (NASDAQ:DTIL - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.85) by $0.57. The company had revenue of $1.25 million for the quarter, compared to the consensus estimate of $1.38 million. Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 72.52%. Equities analysts anticipate that Precision BioSciences will post -3.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DTIL. Quantinno Capital Management LP acquired a new position in Precision BioSciences during the first quarter valued at $104,000. Bank of America Corp DE grew its stake in Precision BioSciences by 167.6% during the 1st quarter. Bank of America Corp DE now owns 27,416 shares of the company's stock worth $151,000 after purchasing an additional 17,172 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Precision BioSciences in the 2nd quarter valued at $164,000. Bank of New York Mellon Corp purchased a new stake in Precision BioSciences during the 2nd quarter valued at approximately $467,000. Finally, Russell Investments Group Ltd. grew its holdings in Precision BioSciences by 4,217.9% in the third quarter. Russell Investments Group Ltd. now owns 82,818 shares of the company's stock valued at $518,000 after purchasing an additional 80,900 shares during the last quarter. Hedge funds and other institutional investors own 37.99% of the company's stock.

About Precision BioSciences

Precision BioSciences, Inc is a biotechnology company developing gene-editing medicines using its proprietary ARCUS platform. ARCUS is based on engineered DNA-cutting enzymes designed to make targeted changes to genetic material, with the potential to remove, insert or correct DNA sequences in human cells.

The company's research and development activities have focused primarily on in vivo gene editing, in which therapeutic editing components are delivered directly into the body. Its development programs have included potential treatments for conditions such as chronic hepatitis B infection, Duchenne muscular dystrophy and certain rare genetic disorders.

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