Precision BioSciences (NASDAQ:DTIL) Coverage Initiated at Guggenheim

Investment analysts at Guggenheim began coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a research note issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $19.00 price target on the stock. Guggenheim’s price objective would suggest a potential upside of 81.30% from the company’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Precision BioSciences in a research note on Wednesday, April 17th.

Precision BioSciences Price Performance

Precision BioSciences stock opened at $10.48 on Tuesday. The company has a market cap of $72.52 million, a PE ratio of -0.65 and a beta of 1.53. The company has a fifty day moving average price of $12.64 and a two-hundred day moving average price of $11.78. Precision BioSciences has a 12 month low of $8.25 and a 12 month high of $27.02.

Precision BioSciences (NASDAQ:DTIL) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($3.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($6.35). Precision BioSciences had a negative net margin of 125.84% and a negative return on equity of 204.66%. The firm had revenue of $7.04 million for the quarter, compared to analyst estimates of $28.50 million. Equities research analysts anticipate that Precision BioSciences will post -3.93 earnings per share for the current year.

Hedge Funds Weigh In On Precision BioSciences

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in Precision BioSciences by 8.3% during the 3rd quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company’s stock valued at $1,073,000 after acquiring an additional 242,425 shares in the last quarter. Tejara Capital Ltd grew its stake in Precision BioSciences by 100.7% during the 3rd quarter. Tejara Capital Ltd now owns 398,614 shares of the company’s stock valued at $136,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Curi Wealth Management LLC grew its stake in Precision BioSciences by 42.0% during the 3rd quarter. Curi Wealth Management LLC now owns 339,801 shares of the company’s stock valued at $116,000 after acquiring an additional 100,530 shares in the last quarter. Hedge funds and other institutional investors own 37.99% of the company’s stock.

About Precision BioSciences

Precision BioSciences, Inc, an advanced gene editing company, develops in vivo gene editing therapies for gene edits, including gene elimination, insertion, and excision in the United States. The company offers ARCUS, a genome editing platform to DNA genome insertion, deletion, and repair. It also provides PBGENE-HBV for the treatment of chronic hepatitis B virus (HBV) to eliminate covalently closed circular DNA with direct cuts and edits as well as to inactivate integrated HBV DNA with the goal of long-lasting reductions in hepatitis B surface antigen; PBGENE-PMM for the treatment of m.3243 associated primary mitochondrial myopathy (PMM) which is expected to submit an IND and/or CTA.