Precision BioSciences (NASDAQ:DTIL) Coverage Initiated at Guggenheim

Guggenheim initiated coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $19.00 target price on the stock.

Separately, HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of Precision BioSciences in a research note on Wednesday, April 17th.

Precision BioSciences Trading Down 3.0 %

Shares of DTIL stock opened at $10.52 on Tuesday. The firm has a 50-day moving average price of $12.55 and a 200 day moving average price of $11.79. Precision BioSciences has a twelve month low of $8.25 and a twelve month high of $27.02. The company has a market capitalization of $72.80 million, a price-to-earnings ratio of -0.65 and a beta of 1.62.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Wednesday, March 27th. The company reported ($3.35) earnings per share for the quarter, missing the consensus estimate of $3.00 by ($6.35). Precision BioSciences had a negative net margin of 125.84% and a negative return on equity of 204.66%. The firm had revenue of $7.04 million during the quarter, compared to analyst estimates of $28.50 million. As a group, research analysts predict that Precision BioSciences will post -3.93 earnings per share for the current year.

Institutional Trading of Precision BioSciences

A number of institutional investors and hedge funds have recently bought and sold shares of DTIL. Curi Wealth Management LLC increased its position in Precision BioSciences by 42.0% during the 3rd quarter. Curi Wealth Management LLC now owns 339,801 shares of the company’s stock worth $116,000 after purchasing an additional 100,530 shares in the last quarter. Tejara Capital Ltd increased its position in Precision BioSciences by 100.7% during the 3rd quarter. Tejara Capital Ltd now owns 398,614 shares of the company’s stock worth $136,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Precision BioSciences by 8.3% during the 3rd quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company’s stock worth $1,073,000 after purchasing an additional 242,425 shares in the last quarter. Institutional investors and hedge funds own 37.99% of the company’s stock.

Precision BioSciences Company Profile

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.