Precision BioSciences (NASDAQ:DTIL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Precision BioSciences (NASDAQ:DTIL) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also commented on DTIL. HC Wainwright restated a “buy” rating on shares of Precision BioSciences in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision BioSciences in a research report on Tuesday, November 3rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Precision BioSciences has an average rating of “Moderate Buy” and an average price target of $32.25.

Precision BioSciences Stock Performance

NASDAQ DTIL opened at $9.68 on Friday. The firm’s 50-day moving average is $6.93 and its two-hundred day moving average is $6.64. 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 10.47 and a debt-to-equity ratio of 0.43.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.57. Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 56.69%. As a group, research analysts anticipate that Precision BioSciences will post -2.60 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision BioSciences

Several hedge funds have recently bought and sold shares of DTIL. Quantinno Capital Management LP purchased a new position in Precision BioSciences during the 1st quarter valued at about $104,000. Bank of America Corp DE increased its stake in Precision BioSciences by 167.6% during the first 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 during the period. Engineers Gate Manager LP purchased a new stake in Precision BioSciences during the second quarter worth about $164,000. Bank of New York Mellon Corp acquired a new stake in shares of Precision BioSciences during the second quarter worth about $467,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Precision BioSciences by 4,217.9% during the third quarter. Russell Investments Group Ltd. now owns 82,818 shares of the company’s stock worth $518,000 after purchasing an additional 80,900 shares in the last quarter. Institutional investors and hedge funds 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.