HC Wainwright Reiterates “Buy” Rating for Precision BioSciences (NASDAQ:DTIL)

Precision BioSciences (NASDAQ:DTIL)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Thursday,Benzinga reports.

DTIL has been the topic of a number of other reports. JonesTrading reaffirmed a “buy” rating and issued a $30.00 target price on shares of Precision BioSciences in a report on Friday, April 17th. Wall Street Zen raised Precision BioSciences from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings raised Precision BioSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Oppenheimer began coverage on Precision BioSciences in a research report on Tuesday, June 9th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $19.00 price objective on shares of Precision BioSciences in a research note on Friday, March 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Precision BioSciences Stock Performance

DTIL stock opened at $8.76 on Thursday. The company has a market cap of $226.01 million, a P/E ratio of -2.39 and a beta of 1.25. Precision BioSciences has a 1 year low of $3.53 and a 1 year high of $9.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 14.02 and a quick ratio of 14.02. The stock’s fifty day moving average price is $7.31 and its 200-day moving average price is $5.86.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Tuesday, May 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.09). Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 85.37%. The business had revenue of $10.84 million for the quarter, compared to the consensus estimate of $4.05 million. On average, equities analysts forecast that Precision BioSciences will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Precision BioSciences

Several large investors have recently made changes to their positions in DTIL. Geode Capital Management LLC grew its position in shares of Precision BioSciences by 5.5% during the second quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock worth $326,000 after purchasing an additional 4,025 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in Precision BioSciences in the 2nd quarter worth approximately $260,000. Corient Private Wealth LLC purchased a new stake in Precision BioSciences during the 2nd quarter valued at approximately $425,000. Vanguard Group Inc. grew its holdings in Precision BioSciences by 21.5% during the 3rd quarter. Vanguard Group Inc. now owns 492,596 shares of the company’s stock valued at $2,719,000 after buying an additional 87,242 shares in the last quarter. Finally, Lynx1 Capital Management LP raised its position in shares of Precision BioSciences by 0.6% during the third quarter. Lynx1 Capital Management LP now owns 1,042,596 shares of the company’s stock valued at $5,755,000 after buying an additional 6,545 shares during the last quarter. 37.99% of the stock is currently owned by hedge funds and other institutional investors.

Precision BioSciences Company Profile

Precision BioSciences is a clinical‐stage genome editing company that leverages its proprietary ARCUS platform to develop targeted gene therapies. ARCUS, an engineered nuclease derived from a naturally occurring enzyme, enables precise DNA modifications for both in vivo and ex vivo applications. The company’s pipeline spans genetic diseases—including rare monogenic disorders—and immuno‐oncology, where it is advancing allogeneic cell therapy candidates designed to address hematologic malignancies and solid tumors.

Founded in 2006 as a spin‐out from research at the University of North Carolina, Precision BioSciences is headquartered in Durham, North Carolina, with additional research and manufacturing capabilities located in the Research Triangle Park area.