Precision BioSciences, Inc. (NASDAQ:DTIL) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Precision BioSciences, Inc. (NASDAQ:DTIL) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.25.

A number of research firms have commented on DTIL. Wall Street Zen raised shares of Precision BioSciences from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precision BioSciences in a research note on Tuesday, November 3rd. Finally, HC Wainwright reissued a “buy” rating on shares of Precision BioSciences in a report on Monday, August 3rd.

Precision BioSciences Trading Down 1.9%

NASDAQ:DTIL opened at $9.50 on Friday. The business’s 50 day moving average is $6.97 and its two-hundred day moving average is $6.67. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.43. Precision BioSciences has a 52 week low of $3.53 and a 52 week high of $11.29.

Precision BioSciences (NASDAQ:DTIL) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.57. Precision BioSciences had a negative return on equity of 56.69% and a negative net margin of 96.73%. On average, research analysts predict that Precision BioSciences will post -2.60 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Precision BioSciences

A number of institutional investors have recently modified their holdings of the business. Octagon Capital Advisors LP grew its holdings in shares of Precision BioSciences by 16.6% during the first quarter. Octagon Capital Advisors LP now owns 2,236,732 shares of the company’s stock valued at $12,302,000 after purchasing an additional 318,737 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in shares of Precision BioSciences in the 1st quarter worth approximately $3,289,000. Corient Private Wealth LP lifted its holdings in shares of Precision BioSciences by 70.4% in the 2nd quarter. Corient Private Wealth LP now owns 245,058 shares of the company’s stock worth $1,926,000 after purchasing an additional 101,206 shares during the last quarter. Squarepoint Ops LLC boosted its position in Precision BioSciences by 212.7% during the 2nd quarter. Squarepoint Ops LLC now owns 137,106 shares of the company’s stock valued at $1,078,000 after purchasing an additional 93,258 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Precision BioSciences by 4,217.9% during the 3rd 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 period. Institutional investors own 37.99% of the company’s stock.

Precision BioSciences Company Profile

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.