Precision BioSciences (NASDAQ:DTIL) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Precision BioSciences (NASDAQ:DTIL) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Precision BioSciences, Inc. operates as a genome editing company and develops therapeutic products primarily in the United States. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. Precision BioSciences Inc. is based in Durham, North Carolina. “

Several other equities research analysts have also recently commented on DTIL. HC Wainwright reaffirmed a buy rating and issued a $21.00 target price on shares of Precision BioSciences in a research report on Wednesday, November 13th. BTIG Research started coverage on shares of Precision BioSciences in a research report on Friday, August 9th. They issued a buy rating and a $22.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, Precision BioSciences presently has an average rating of Buy and a consensus price target of $22.17.

NASDAQ:DTIL opened at $16.64 on Monday. The company has a 50-day moving average price of $10.29 and a 200-day moving average price of $10.99. Precision BioSciences has a 12 month low of $6.24 and a 12 month high of $19.00.

Precision BioSciences (NASDAQ:DTIL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.15. Precision BioSciences had a negative net margin of 423.14% and a negative return on equity of 78.51%. The firm had revenue of $4.87 million during the quarter, compared to analysts’ expectations of $5.25 million. As a group, research analysts forecast that Precision BioSciences will post -1.42 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of DTIL. BlackRock Inc. lifted its position in Precision BioSciences by 511.8% during the 2nd quarter. BlackRock Inc. now owns 635,076 shares of the company’s stock valued at $8,414,000 after acquiring an additional 531,269 shares during the period. Wells Fargo & Company MN lifted its position in Precision BioSciences by 66.7% during the 2nd quarter. Wells Fargo & Company MN now owns 883,037 shares of the company’s stock valued at $11,701,000 after acquiring an additional 353,208 shares during the period. Vanguard Group Inc. lifted its position in Precision BioSciences by 469.3% during the 2nd quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock valued at $5,657,000 after acquiring an additional 352,010 shares during the period. Victory Capital Management Inc. lifted its position in Precision BioSciences by 474.9% during the 2nd quarter. Victory Capital Management Inc. now owns 136,830 shares of the company’s stock valued at $1,813,000 after acquiring an additional 113,030 shares during the period. Finally, Cowen Inc. lifted its position in Precision BioSciences by 7.5% during the 2nd quarter. Cowen Inc. now owns 1,083,926 shares of the company’s stock valued at $14,362,000 after acquiring an additional 75,361 shares during the period. 44.04% of the stock is owned by institutional investors.

Precision BioSciences Company Profile

Precision BioSciences, Inc operates as a genome editing company and develops therapeutic products in the United States. It operates through two segments, Therapeutic and Food. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.

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