Precision BioSciences (NASDAQ:DTIL) Issues Quarterly Earnings Results

Precision BioSciences (NASDAQ:DTIL) announced its quarterly earnings results on Monday. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($1.53), RTT News reports. Precision BioSciences had a negative return on equity of 196.19% and a negative net margin of 11,977.36%.The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $5.40 million. During the same quarter in the previous year, the company posted ($2.25) EPS.

Precision BioSciences Stock Performance

Shares of DTIL opened at $6.82 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.18 and a current ratio of 5.18. The stock has a 50 day moving average price of $5.79 and a two-hundred day moving average price of $5.18. The firm has a market capitalization of $80.43 million, a P/E ratio of -0.81 and a beta of 1.79. Precision BioSciences has a 52 week low of $3.61 and a 52 week high of $8.82.

Institutional Trading of Precision BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC bought a new position in shares of Precision BioSciences in the second quarter valued at approximately $260,000. Geode Capital Management LLC grew its holdings in shares of Precision BioSciences by 5.5% in the second quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock valued at $326,000 after acquiring an additional 4,025 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Precision BioSciences in the second quarter valued at approximately $425,000. 37.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Precision BioSciences in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.00.

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.