Precision BioSciences (NASDAQ:DTIL) Trading Up 11.8%

Precision BioSciences Inc (NASDAQ:DTIL) shares were up 11.8% on Friday . The stock traded as high as $13.92 and last traded at $13.65, approximately 1,024,300 shares were traded during trading. An increase of 302% from the average daily volume of 254,790 shares. The stock had previously closed at $12.21.

Several equities analysts recently weighed in on DTIL shares. Zacks Investment Research upgraded shares of Precision BioSciences from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Precision BioSciences in a research report on Wednesday, November 13th. Finally, BTIG Research started coverage on shares of Precision BioSciences in a research report on Friday, August 9th. They set a “buy” rating and a $22.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $21.17.

The business’s 50-day simple moving average is $8.11 and its two-hundred day simple moving average is $10.78.

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

A number of large investors have recently modified their holdings of the business. MUFG Americas Holdings Corp boosted its position in Precision BioSciences by 71.4% during the third quarter. MUFG Americas Holdings Corp now owns 6,593 shares of the company’s stock worth $55,000 after purchasing an additional 2,747 shares during the period. Royal Bank of Canada bought a new position in Precision BioSciences during the second quarter worth about $38,000. Ladenburg Thalmann Financial Services Inc. bought a new position in Precision BioSciences during the second quarter worth about $33,000. Cowen Inc. boosted its position in Precision BioSciences by 7.5% during the second quarter. Cowen Inc. now owns 1,083,926 shares of the company’s stock worth $14,362,000 after purchasing an additional 75,361 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Precision BioSciences by 474.9% during the second quarter. Victory Capital Management Inc. now owns 136,830 shares of the company’s stock worth $1,813,000 after purchasing an additional 113,030 shares during the period. Hedge funds and other institutional investors own 45.18% of the company’s stock.

Precision BioSciences Company Profile (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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