Precision BioSciences (NASDAQ:DTIL) Stock Price Up 3.8% – Time to Buy?

Precision BioSciences, Inc. (NASDAQ:DTIL) shot up 3.8% during mid-day trading on Thursday . The stock traded as high as $8.24 and last traded at $8.18. Approximately 600,930 shares traded hands during trading, an increase of 19% from the average daily volume of 503,447 shares. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DTIL. JonesTrading restated a “buy” rating and set a $30.00 price objective on shares of Precision BioSciences in a research report on Friday, April 17th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Precision BioSciences in a report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $19.00 price target on shares of Precision BioSciences in a research note on Friday, March 13th. Wall Street Zen raised Precision BioSciences from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings upgraded Precision BioSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Precision BioSciences presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Precision BioSciences Stock Performance

The stock’s 50-day moving average is $7.12 and its 200-day moving average is $5.69. The firm has a market capitalization of $211.04 million, a price-to-earnings ratio of -2.23 and a beta of 1.25. The company has a current ratio of 14.02, a quick ratio of 14.02 and a debt-to-equity ratio of 0.29.

Precision BioSciences (NASDAQ:DTIL) last issued its earnings results on Tuesday, May 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). The company 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 96.73% and a negative return on equity of 85.37%. On average, analysts predict that Precision BioSciences, Inc. will post -2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Precision BioSciences

Institutional investors and hedge funds have recently bought and sold shares of the company. HBK Sorce Advisory LLC bought a new position in Precision BioSciences in the fourth quarter valued at about $38,000. Engineers Gate Manager LP acquired a new position in shares of Precision BioSciences in the fourth quarter valued at approximately $43,000. Occudo Quantitative Strategies LP acquired a new position in shares of Precision BioSciences in the fourth quarter valued at approximately $52,000. Miller Financial Services LLC raised its holdings in Precision BioSciences by 50.0% in the 4th quarter. Miller Financial Services LLC now owns 15,000 shares of the company’s stock valued at $62,000 after buying an additional 5,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Precision BioSciences in the 3rd quarter valued at approximately $84,000. Institutional investors and hedge funds own 37.99% of the company’s stock.

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.