Precision BioSciences’ (DTIL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $60.00 price target on the stock.

Precision BioSciences Price Performance

NASDAQ DTIL opened at $4.65 on Wednesday. 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 capitalization of $49.06 million, a price-to-earnings ratio of 77.51 and a beta of 1.55. The company has a 50 day simple moving average of $4.99 and a 200-day simple moving average of $5.41. Precision BioSciences has a 52-week low of $3.61 and a 52-week high of $13.44.

Precision BioSciences (NASDAQ:DTIL) last released its quarterly earnings data on Thursday, May 15th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($1.78). Precision BioSciences had a net margin of 11.48% and a negative return on equity of 23.69%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $5.00 million. Equities research analysts predict that Precision BioSciences will post -1.23 earnings per share for the current fiscal year.

Institutional Trading of Precision BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tejara Capital Ltd grew its stake in Precision BioSciences by 185.2% in the first quarter. Tejara Capital Ltd now owns 60,427 shares of the company’s stock valued at $288,000 after purchasing an additional 39,242 shares in the last quarter. Miller Financial Services LLC bought a new stake in shares of Precision BioSciences in the 1st quarter valued at approximately $48,000. Squarepoint Ops LLC bought a new stake in shares of Precision BioSciences in the 4th quarter valued at approximately $179,000. Tang Capital Management LLC increased its holdings in Precision BioSciences by 8.0% in the fourth quarter. Tang Capital Management LLC now owns 673,332 shares of the company’s stock worth $2,565,000 after buying an additional 50,000 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Precision BioSciences by 22.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,534 shares of the company’s stock valued at $59,000 after acquiring an additional 2,805 shares in the last quarter. 37.99% of the stock is currently owned by hedge funds and other institutional investors.

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.