Precision BioSciences (NASDAQ:DTIL) Issues Quarterly Earnings Results

Precision BioSciences (NASDAQ:DTIL) issued its earnings results on Tuesday. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.20, Zacks reports. Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 72.52%.

Precision BioSciences Price Performance

DTIL traded up $0.06 during midday trading on Tuesday, reaching $7.01. 43,909 shares of the company’s stock were exchanged, compared to its average volume of 305,764. The company has a debt-to-equity ratio of 0.50, a current ratio of 12.82 and a quick ratio of 12.82. The stock has a market capitalization of $193.59 million, a PE ratio of -2.50 and a beta of 1.27. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $6.52. Precision BioSciences has a 1-year low of $3.53 and a 1-year high of $9.62.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DTIL. Wall Street Zen lowered Precision BioSciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision BioSciences in a research note on Wednesday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Precision BioSciences in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.25.

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.