Precision BioSciences (NASDAQ:DTIL) Announces Earnings Results
by Teresa Graham · The Cerbat GemPrecision BioSciences (NASDAQ:DTIL – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09), FiscalAI reports. The business had revenue of $10.84 million for the quarter, compared to analysts’ expectations of $4.05 million. Precision BioSciences had a negative return on equity of 98.12% and a negative net margin of 96.73%.
Precision BioSciences Stock Down 1.3%
Shares of Precision BioSciences stock traded down $0.10 on Thursday, reaching $7.42. 82,162 shares of the company were exchanged, compared to its average volume of 256,351. Precision BioSciences has a 1-year low of $3.53 and a 1-year high of $8.82. The company has a market cap of $191.44 million, a P/E ratio of -2.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 13.32 and a quick ratio of 13.32. The stock’s 50 day moving average price is $6.17 and its 200-day moving average price is $5.38.
Analysts Set New Price Targets
A number of brokerages have issued reports on DTIL. Jefferies Financial Group reiterated a “buy” rating and set a $19.00 price target on shares of Precision BioSciences in a research note on Friday, March 13th. JonesTrading reiterated a “buy” rating and set a $30.00 price target on shares of Precision BioSciences in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Precision BioSciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.33.
Check Out Our Latest Report on DTIL
Insider Buying and Selling
In related news, CEO Michael Amoroso sold 20,559 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $3.84, for a total value of $78,946.56. Following the completion of the transaction, the chief executive officer directly owned 243,392 shares of the company’s stock, valued at $934,625.28. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Alexander Kelly sold 8,149 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $3.84, for a total value of $31,292.16. Following the completion of the transaction, the chief financial officer directly owned 125,883 shares of the company’s stock, valued at $483,390.72. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,633 shares of company stock valued at $129,151 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Precision BioSciences
Several large investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $149,000. Sphera Funds Management LTD. acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $1,648,000. Quadrature Capital Ltd boosted its holdings in shares of Precision BioSciences by 344.7% in the fourth quarter. Quadrature Capital Ltd now owns 62,129 shares of the company’s stock valued at $258,000 after acquiring an additional 48,158 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $52,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $43,000. 37.99% of the stock is owned by institutional investors and hedge funds.
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.