Precision BioSciences (NASDAQ:DTIL) Announces Quarterly Earnings Results

Precision BioSciences (NASDAQ:DTIL) posted its quarterly earnings data on Monday. The company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.53), RTT News reports. Precision BioSciences had a negative net margin of 6,205.79% and a negative return on equity of 176.47%. During the same quarter in the previous year, the business posted ($2.25) EPS.

Precision BioSciences Stock Down 5.2%

NASDAQ:DTIL opened at $8.16 on Monday. The business’s fifty day moving average price is $5.71 and its 200 day moving average price is $5.16. The firm has a market capitalization of $96.21 million, a price-to-earnings ratio of -0.93 and a beta of 1.79. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.66. Precision BioSciences has a 1-year low of $3.61 and a 1-year high of $9.14.

Institutional Trading of Precision BioSciences

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Precision BioSciences by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock valued at $326,000 after buying an additional 4,025 shares during the period. Bridgeway Capital Management LLC purchased a new stake in shares of Precision BioSciences during the second quarter worth $260,000. Finally, Corient Private Wealth LLC acquired a new stake in Precision BioSciences during the second quarter valued at $425,000. 37.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Precision BioSciences in a research note on Wednesday, October 8th. Two 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, Precision BioSciences presently has an average rating of “Hold” and an average price target of $47.00.

About Precision BioSciences

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.