Precision BioSciences (NASDAQ:DTIL) Downgraded to “Hold” at Zacks Investment Research

Precision BioSciences (NASDAQ:DTIL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, 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 analysts have also recently commented on DTIL. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Precision BioSciences in a research note on Wednesday, November 13th. BTIG Research assumed coverage on shares of Precision BioSciences in a research note on Friday, August 9th. They issued a “buy” rating and a $22.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Precision BioSciences presently has a consensus rating of “Buy” and an average target price of $22.17.

NASDAQ:DTIL opened at $16.85 on Monday. Precision BioSciences has a one year low of $6.24 and a one year high of $19.00. The business’s 50-day simple moving average is $10.10 and its 200 day simple moving average is $10.97.

Precision BioSciences (NASDAQ:DTIL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. Precision BioSciences had a negative return on equity of 78.51% and a negative net margin of 423.14%. The firm had revenue of $4.87 million during the quarter, compared to analyst estimates of $5.25 million. As a group, equities research analysts predict that Precision BioSciences will post -1.42 earnings per share for the current year.

Several hedge funds have recently modified their holdings of DTIL. Strs Ohio acquired a new position in Precision BioSciences in the second quarter worth about $31,000. Northern Trust Corp acquired a new stake in Precision BioSciences during the second quarter valued at approximately $575,000. Vanguard Group Inc. raised its stake in Precision BioSciences by 469.3% during the second quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock valued at $5,657,000 after buying an additional 352,010 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Precision BioSciences by 474.9% during the 2nd quarter. Victory Capital Management Inc. now owns 136,830 shares of the company’s stock worth $1,813,000 after buying an additional 113,030 shares during the last quarter. Finally, Cowen Inc. lifted its holdings in Precision BioSciences by 7.5% during the 2nd quarter. Cowen Inc. now owns 1,083,926 shares of the company’s stock worth $14,362,000 after buying an additional 75,361 shares during the last quarter. 44.04% of the stock is currently owned by institutional investors and hedge funds.

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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