Precision BioSciences (NASDAQ:DTIL) PT Lowered to $6.00

Precision BioSciences (NASDAQ:DTILGet Rating) had its price target reduced by research analysts at BTIG Research to $6.00 in a research report issued on Tuesday, Stock Target Advisor reports. BTIG Research’s target price would indicate a potential upside of 279.75% from the stock’s previous close.

Several other brokerages have also commented on DTIL. HC Wainwright decreased their price target on Precision BioSciences from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. The Goldman Sachs Group lowered their price target on Precision BioSciences from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Precision BioSciences Stock Up 6.0 %

DTIL stock opened at $1.58 on Tuesday. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $1.41 and its 200 day moving average price is $1.55. Precision BioSciences has a 52 week low of $1.11 and a 52 week high of $9.93. The company has a market cap of $175.32 million, a P/E ratio of -1.04 and a beta of 1.51.

Insider Buying and Selling

In related news, CFO John Alexander Kelly bought 37,037 shares of the stock in a transaction on Thursday, September 22nd. The shares were purchased at an average price of $1.34 per share, for a total transaction of $49,629.58. Following the acquisition, the chief financial officer now owns 154,738 shares in the company, valued at $207,348.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Precision BioSciences

A number of large investors have recently bought and sold shares of the stock. Balyasny Asset Management LLC grew its holdings in Precision BioSciences by 70.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 19,333 shares of the company’s stock valued at $25,000 after buying an additional 7,967 shares during the last quarter. Two Sigma Investments LP grew its holdings in Precision BioSciences by 948.8% during the 3rd quarter. Two Sigma Investments LP now owns 126,729 shares of the company’s stock valued at $165,000 after buying an additional 114,646 shares during the last quarter. Vanguard Group Inc. grew its holdings in Precision BioSciences by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,895,147 shares of the company’s stock valued at $5,063,000 after buying an additional 425,055 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Precision BioSciences during the third quarter worth $46,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Precision BioSciences by 51.6% during the third quarter. Cubist Systematic Strategies LLC now owns 140,997 shares of the company’s stock worth $183,000 after purchasing an additional 48,002 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

Precision BioSciences Company Profile

(Get Rating)

Precision BioSciences, Inc, a clinical stage gene editing company, develops in vivo gene editing and ex vivo allogeneic CAR T therapies in the United States. It offers ARCUS, a genome editing platform to cure genetic disorders. The company also provides Ex vivo Allogeneic CAR T Immunotherapy, a form of immunotherapy in which T cell, a specific type of immune cell is genetically engineered to recognize and kill cancer cells; PBCAR0191, which is in Phase 1/2a clinical trial in adult patients with R/R NHL or R/R B-cell precursor acute lymphoblastic leukemia, or B-ALL; PBCAR19B, an anti-CD19 CAR T candidate built on the stealth cell platform utilizing a single-step gene edit to minimize the risk of chromosome abnormalities; and PBCAR269A, an investigational allogeneic CAR T immunotherapy targeting BCMA for the treatment of R/R multiple myeloma.

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