Renaissance Technologies LLC Trims Holdings in Precision BioSciences, Inc. $DTIL

Renaissance Technologies LLC trimmed its position in Precision BioSciences, Inc. (NASDAQ:DTIL) by 31.6% during the first quarter, Holdings Channel.com reports. The firm owned 223,177 shares of the company’s stock after selling 103,300 shares during the period. Renaissance Technologies LLC’s holdings in Precision BioSciences were worth $1,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DTIL. Empery Asset Management LP purchased a new stake in shares of Precision BioSciences during the fourth quarter worth about $9,130,000. Boothbay Fund Management LLC lifted its stake in shares of Precision BioSciences by 497.1% during the fourth quarter. Boothbay Fund Management LLC now owns 1,066,050 shares of the company’s stock valued at $4,435,000 after buying an additional 887,515 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Precision BioSciences during the fourth quarter valued at approximately $3,320,000. Bleichroeder LP boosted its position in Precision BioSciences by 54.7% during the fourth quarter. Bleichroeder LP now owns 1,662,500 shares of the company’s stock worth $6,916,000 after acquiring an additional 587,500 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in Precision BioSciences during the fourth quarter worth approximately $1,648,000. 37.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on DTIL shares. HC Wainwright reaffirmed a “buy” rating on shares of Precision BioSciences in a research note on Monday, August 3rd. JonesTrading reissued a “buy” rating and set a $30.00 price target on shares of Precision BioSciences in a research note on Friday, April 17th. Oppenheimer initiated coverage on Precision BioSciences in a report on Tuesday, June 9th. They set an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision BioSciences in a research report on Wednesday, August 5th. Finally, Wall Street Zen lowered Precision BioSciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.25.

Precision BioSciences Trading Down 1.6%

NASDAQ:DTIL opened at $7.30 on Friday. The firm has a market capitalization of $201.48 million, a PE ratio of -2.61 and a beta of 1.27. The business’s 50-day moving average is $7.44 and its two-hundred day moving average is $6.44. Precision BioSciences, Inc. has a 12 month low of $3.53 and a 12 month high of $9.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 12.82 and a quick ratio of 12.82.

Precision BioSciences (NASDAQ:DTIL) last posted its earnings results on Thursday, August 6th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.46). Precision BioSciences had a negative return on equity of 72.52% and a negative net margin of 96.73%. Research analysts predict that Precision BioSciences, Inc. will post -2.69 earnings per share for the current fiscal year.

Precision BioSciences 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.