Precision BioSciences (NASDAQ:DTIL) Issues Earnings Results, Misses Estimates By $0.09 EPS

Precision BioSciences (NASDAQ:DTIL) announced its quarterly earnings results on Tuesday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09), FiscalAI reports. The business had revenue of $10.84 million during the quarter, compared to analyst estimates 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 opened at $7.63 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 13.32 and a quick ratio of 13.32. The stock has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.36. Precision BioSciences has a 1-year low of $3.53 and a 1-year high of $8.82. The company has a market cap of $196.85 million, a PE ratio of -1.49 and a beta of 1.31.

Insider Buying and Selling at Precision BioSciences

In related news, CEO Michael Amoroso sold 20,559 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 $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 trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $31,292.16. Following the sale, the chief financial officer directly owned 125,883 shares of the company’s stock, valued at approximately $483,390.72. This 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 ninety days, insiders have sold 33,633 shares of company stock valued at $129,151. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position 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 buying an additional 4,025 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Precision BioSciences during the 2nd quarter worth about $260,000. Corient Private Wealth LLC purchased a new stake in Precision BioSciences during the 2nd quarter worth about $425,000. Vanguard Group Inc. grew its holdings in Precision BioSciences by 21.5% in the 3rd quarter. Vanguard Group Inc. now owns 492,596 shares of the company’s stock valued at $2,719,000 after buying an additional 87,242 shares during the period. Finally, Lynx1 Capital Management LP grew its holdings in Precision BioSciences by 0.6% in the 3rd quarter. Lynx1 Capital Management LP now owns 1,042,596 shares of the company’s stock valued at $5,755,000 after buying an additional 6,545 shares during the period. Hedge funds and other institutional investors own 37.99% of the company’s stock.

Wall Street Analyst Weigh In

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

About Precision BioSciences

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.