Guggenheim Begins Coverage on Precision BioSciences (NASDAQ:DTIL)

Guggenheim initiated coverage on shares of Precision BioSciences (NASDAQ:DTIL - Free Report) in a research note released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $19.00 price target on the stock.

Separately, HC Wainwright restated a buy rating and issued a $60.00 price target on shares of Precision BioSciences in a research report on Wednesday, April 17th.

Precision BioSciences Trading Up 5.8 %

NASDAQ:DTIL traded up $0.57 during mid-day trading on Tuesday, hitting $10.41. 40,049 shares of the company's stock were exchanged, compared to its average volume of 122,114. The company has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $11.78. Precision BioSciences has a fifty-two week low of $8.25 and a fifty-two week high of $27.02. The firm has a market capitalization of $72.00 million, a P/E ratio of -0.65 and a beta of 1.53.

Precision BioSciences (NASDAQ:DTIL - Get Free Report) last posted its earnings results on Wednesday, March 27th. The company reported ($3.35) EPS for the quarter, missing the consensus estimate of $3.00 by ($6.35). The business had revenue of $7.04 million for the quarter, compared to analyst estimates of $28.50 million. Precision BioSciences had a negative return on equity of 204.66% and a negative net margin of 125.84%. As a group, analysts expect that Precision BioSciences will post -3.93 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Curi Wealth Management LLC increased its stake in Precision BioSciences by 42.0% during the 3rd quarter. Curi Wealth Management LLC now owns 339,801 shares of the company's stock valued at $116,000 after purchasing an additional 100,530 shares in the last quarter. Tejara Capital Ltd grew its stake in shares of Precision BioSciences by 100.7% in the 3rd quarter. Tejara Capital Ltd now owns 398,614 shares of the company's stock worth $136,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Precision BioSciences by 8.3% in the 3rd quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company's stock worth $1,073,000 after acquiring an additional 242,425 shares in the last quarter. Institutional investors and hedge funds own 37.99% of the company's stock.

Precision BioSciences Company Profile

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.