Jefferies Financial Group Weighs in on Precision BioSciences Inc’s FY2023 Earnings (NASDAQ:DTIL)

Precision BioSciences Inc (NASDAQ:DTIL) – Jefferies Financial Group lifted their FY2023 earnings estimates for Precision BioSciences in a research note issued to investors on Wednesday, November 13th. Jefferies Financial Group analyst M. Raycroft now anticipates that the company will post earnings of $0.95 per share for the year, up from their prior estimate of $0.90.

Precision BioSciences (NASDAQ:DTIL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.15. The company had revenue of $4.87 million during the quarter, compared to analyst estimates of $5.25 million. Precision BioSciences had a negative return on equity of 78.51% and a negative net margin of 423.14%.

Several other brokerages have also issued reports on DTIL. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Precision BioSciences in a report on Wednesday. BTIG Research began coverage on shares of Precision BioSciences in a report on Friday, August 9th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Precision BioSciences from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Friday. Seven investment analysts have rated the stock with a buy rating, Precision BioSciences currently has an average rating of “Buy” and a consensus price target of $21.17.

DTIL traded up $0.31 on Friday, hitting $12.11. The company had a trading volume of 1,590,400 shares, compared to its average volume of 612,574. The business’s fifty day simple moving average is $7.55 and its 200 day simple moving average is $10.78. Precision BioSciences has a 12-month low of $6.24 and a 12-month high of $19.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in Precision BioSciences in the second quarter worth $31,000. Edge Wealth Management LLC purchased a new position in Precision BioSciences in the second quarter worth $53,000. Northern Trust Corp purchased a new position in Precision BioSciences in the second quarter worth $575,000. Vanguard Group Inc. grew its holdings in Precision BioSciences by 469.3% in the second quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock worth $5,657,000 after purchasing an additional 352,010 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Precision BioSciences by 474.9% in the second quarter. Victory Capital Management Inc. now owns 136,830 shares of the company’s stock worth $1,813,000 after purchasing an additional 113,030 shares during the last quarter. 43.26% of the stock is currently owned by institutional investors and hedge funds.

About Precision BioSciences

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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