Precision BioSciences (NASDAQ:DTIL) Issues Earnings Results

Precision BioSciences (NASDAQ:DTIL) announced its earnings results on Tuesday. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09), FiscalAI reports. The business had revenue of $10.84 million for the quarter, compared to analysts’ expectations of $4.05 million. Precision BioSciences had a negative net margin of 133.45% and a negative return on equity of 122.60%.

Precision BioSciences Price Performance

Shares of NASDAQ DTIL traded up $0.51 during midday trading on Wednesday, reaching $7.96. The stock had a trading volume of 70,305 shares, compared to its average volume of 255,141. The stock has a 50-day moving average of $6.10 and a 200-day moving average of $5.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 13.32 and a current ratio of 13.32. The company has a market capitalization of $205.34 million, a price-to-earnings ratio of -1.55 and a beta of 1.31. Precision BioSciences has a 12-month low of $3.53 and a 12-month high of $8.82.

Analysts Set New Price Targets

A number of brokerages have commented on DTIL. JonesTrading restated a “buy” rating and issued a $30.00 price target on shares of Precision BioSciences in a research report on Friday, April 17th. Wall Street Zen upgraded Precision BioSciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $19.00 price target on shares of Precision BioSciences in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.33.

Insiders Place Their Bets

In other news, CEO Michael Amoroso sold 20,559 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $3.84, for a total value of $78,946.56. Following the completion of the sale, the chief executive officer directly owned 243,392 shares of the company’s stock, valued at $934,625.28. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Alexander Kelly sold 8,149 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $3.84, for a total transaction of $31,292.16. Following the completion of the sale, the chief financial officer directly owned 125,883 shares of the company’s stock, valued at approximately $483,390.72. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 33,633 shares of company stock valued at $129,151. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Precision BioSciences

Several institutional investors have recently made changes to their positions in DTIL. Boothbay Fund Management LLC grew its position in shares of Precision BioSciences by 497.1% during the fourth quarter. Boothbay Fund Management LLC now owns 1,066,050 shares of the company’s stock worth $4,435,000 after purchasing an additional 887,515 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Precision BioSciences during the fourth quarter worth about $3,320,000. Bleichroeder LP grew its stake in Precision BioSciences by 54.7% during the fourth quarter. Bleichroeder LP now owns 1,662,500 shares of the company’s stock valued at $6,916,000 after acquiring an additional 587,500 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in Precision BioSciences during the fourth quarter valued at $1,648,000. Finally, Renaissance Technologies LLC grew its stake in Precision BioSciences by 66.4% during the fourth quarter. Renaissance Technologies LLC now owns 326,477 shares of the company’s stock valued at $1,358,000 after acquiring an additional 130,300 shares in the last quarter. Hedge funds and other institutional investors own 37.99% of the company’s stock.

Precision BioSciences Company Profile

Precision BioSciences is a clinical?stage genome editing company that leverages its proprietary ARCUS platform to develop targeted gene therapies. ARCUS, an engineered nuclease derived from a naturally occurring enzyme, enables precise DNA modifications for both in vivo and ex vivo applications. The company’s pipeline spans genetic diseases—including rare monogenic disorders—and immuno?oncology, where it is advancing allogeneic cell therapy candidates designed to address hematologic malignancies and solid tumors.

Founded in 2006 as a spin?out from research at the University of North Carolina, Precision BioSciences is headquartered in Durham, North Carolina, with additional research and manufacturing capabilities located in the Research Triangle Park area.