Precision BioSciences (NASDAQ:DTIL) Releases Earnings Results, Misses Expectations By $1.11 EPS

Precision BioSciences (NASDAQ:DTIL) issued its earnings results on Wednesday. The company reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($1.11), Zacks reports. The business had revenue of $3.47 million during the quarter, compared to analyst estimates of $4.28 million. Precision BioSciences had a net margin of 11.48% and a negative return on equity of 23.69%.

Precision BioSciences Trading Up 2.2 %

Shares of DTIL traded up $0.10 during mid-day trading on Friday, reaching $4.64. The stock had a trading volume of 26,722 shares, compared to its average volume of 172,078. The business’s fifty day moving average is $5.12 and its 200 day moving average is $6.59. Precision BioSciences has a 52-week low of $3.61 and a 52-week high of $15.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 9.22 and a quick ratio of 9.22. The firm has a market cap of $35.59 million, a price-to-earnings ratio of 77.33 and a beta of 1.59.

Insider Transactions at Precision BioSciences

In other news, CEO Michael Amoroso sold 36,838 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $4.67, for a total value of $172,033.46. Following the sale, the chief executive officer now directly owns 107,087 shares of the company’s stock, valued at approximately $500,096.29. The trade was a 25.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider J. Jefferson Smith sold 10,287 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $4.79, for a total transaction of $49,274.73. Following the completion of the transaction, the insider now owns 87,440 shares in the company, valued at approximately $418,837.60. This represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,243 shares of company stock worth $227,424 in the last 90 days. Insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DTIL. BMO Capital Markets raised shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Precision BioSciences in a report on Friday.

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.