Zacks Investment Research Downgrades Precision BioSciences (NASDAQ:DTIL) to Sell

Precision BioSciences (NASDAQ:DTIL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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. “

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their target price on shares of Precision BioSciences from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, September 10th. TheStreet raised shares of Precision BioSciences from a “d+” rating to a “c” rating in a report on Thursday, September 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.33.

Shares of NASDAQ DTIL traded down $0.18 during midday trading on Wednesday, reaching $9.96. The company had a trading volume of 195,427 shares, compared to its average volume of 700,995. The business’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $10.67. The stock has a market cap of $593.40 million, a P/E ratio of -10.95 and a beta of 1.74. Precision BioSciences has a 1 year low of $6.04 and a 1 year high of $16.60.

Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings results on Wednesday, August 11th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.80. The business had revenue of $68.81 million during the quarter, compared to analysts’ expectations of $22.74 million. Precision BioSciences had a negative net margin of 45.88% and a negative return on equity of 69.50%. Equities analysts expect that Precision BioSciences will post -1.17 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Precision BioSciences during the first quarter worth about $6,507,000. Vanguard Group Inc. boosted its position in Precision BioSciences by 20.7% during the second quarter. Vanguard Group Inc. now owns 2,792,057 shares of the company’s stock worth $34,956,000 after acquiring an additional 479,041 shares during the last quarter. Morgan Stanley raised its stake in Precision BioSciences by 267.4% during the first quarter. Morgan Stanley now owns 538,347 shares of the company’s stock worth $5,572,000 after purchasing an additional 391,818 shares during the period. Citigroup Inc. raised its stake in Precision BioSciences by 1,031.8% during the first quarter. Citigroup Inc. now owns 391,578 shares of the company’s stock worth $4,053,000 after purchasing an additional 356,980 shares during the period. Finally, Integral Health Asset Management LLC purchased a new position in Precision BioSciences during the second quarter worth about $4,382,000. Institutional investors and hedge funds own 47.80% of the company’s stock.

Precision BioSciences Company Profile

Precision BioSciences, Inc is a biotechnology company, which engages in the development of genome editing technologies. It operates through the Therapeutics and Food segments. The Therapeutics segment focuses on the development of products in the field of immuno-oncology and of novel products outside immuno-oncology to treat human diseases.

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