BNP Paribas Arbitrage SA increased its holdings in shares of Precision BioSciences Inc (NASDAQ:DTIL) by 165.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,093 shares of the company’s stock after purchasing an additional 6,918 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Precision BioSciences were worth $67,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE increased its position in Precision BioSciences by 398.9% during the 1st quarter. US Bancorp DE now owns 4,989 shares of the company’s stock worth $30,000 after purchasing an additional 3,989 shares in the last quarter. Marshall Wace North America L.P. increased its position in Precision BioSciences by 268.3% during the 4th quarter. Marshall Wace North America L.P. now owns 4,387 shares of the company’s stock worth $61,000 after purchasing an additional 3,196 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Precision BioSciences during the 1st quarter worth approximately $63,000. Bank of Montreal Can increased its position in Precision BioSciences by 482.8% during the 4th quarter. Bank of Montreal Can now owns 4,715 shares of the company’s stock worth $66,000 after purchasing an additional 3,906 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in Precision BioSciences by 21.6% during the 1st quarter. IHT Wealth Management LLC now owns 12,825 shares of the company’s stock worth $77,000 after purchasing an additional 2,275 shares in the last quarter. 49.35% of the stock is owned by hedge funds and other institutional investors.
DTIL has been the subject of a number of analyst reports. Goldman Sachs Group cut Precision BioSciences from a “buy” rating to a “neutral” rating in a report on Thursday, April 2nd. Zacks Investment Research cut Precision BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Precision BioSciences in a report on Friday, June 12th. Stifel Nicolaus initiated coverage on Precision BioSciences in a report on Wednesday, March 4th. They issued a “buy” rating and a $21.00 price target for the company. Finally, William Blair restated a “buy” rating on shares of Precision BioSciences in a report on Monday, June 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Precision BioSciences currently has a consensus rating of “Buy” and a consensus price target of $17.44.
Precision BioSciences (NASDAQ:DTIL) last released its earnings results on Friday, May 15th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.01. The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $5.20 million. Precision BioSciences had a negative return on equity of 60.32% and a negative net margin of 369.86%. Equities analysts forecast that Precision BioSciences Inc will post -2.37 EPS for the current year.
About Precision BioSciences
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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