Precision BioSciences (NASDAQ:DTIL) Stock Price Down 9.3%

Precision BioSciences Inc (NASDAQ:DTIL)’s stock price was down 9.3% on Friday . The company traded as low as $6.31 and last traded at $6.36, approximately 638,037 shares were traded during mid-day trading. An increase of 8% from the average daily volume of 591,372 shares. The stock had previously closed at $7.01.

A number of analysts have weighed in on DTIL shares. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Precision BioSciences in a research report on Friday, June 12th. William Blair reissued a “buy” rating on shares of Precision BioSciences in a research note on Monday, June 8th. Zacks Investment Research lowered Precision BioSciences from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Finally, BidaskClub lowered Precision BioSciences from a “sell” rating to a “strong sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.44.

The firm has a 50 day moving average price of $8.05 and a 200-day moving average price of $7.76.

Precision BioSciences (NASDAQ:DTIL) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.01. Precision BioSciences had a negative return on equity of 60.32% and a negative net margin of 369.86%. The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $5.20 million. Equities research analysts predict that Precision BioSciences Inc will post -2.37 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of DTIL. JPMorgan Chase & Co. lifted its stake in shares of Precision BioSciences by 155.7% during the first quarter. JPMorgan Chase & Co. now owns 240,065 shares of the company’s stock valued at $1,448,000 after acquiring an additional 146,180 shares during the period. Geode Capital Management LLC lifted its stake in shares of Precision BioSciences by 100.9% during the fourth quarter. Geode Capital Management LLC now owns 283,255 shares of the company’s stock valued at $3,934,000 after acquiring an additional 142,238 shares during the period. Vivo Capital LLC acquired a new position in shares of Precision BioSciences during the first quarter valued at $846,000. Nuveen Asset Management LLC lifted its stake in Precision BioSciences by 993.9% in the fourth quarter. Nuveen Asset Management LLC now owns 148,595 shares of the company’s stock valued at $2,064,000 after buying an additional 135,011 shares during the period. Finally, Bogle Investment Management L P DE bought a new position in Precision BioSciences during the first quarter worth about $609,000. 49.48% of the stock is currently owned by institutional investors and hedge funds.

About Precision BioSciences (NASDAQ:DTIL)

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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