Precision BioSciences (NASDAQ:DTIL) Now Covered by Guggenheim

Guggenheim began coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a report released on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $19.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 93.09% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Precision BioSciences in a research report on Wednesday, April 17th.

Precision BioSciences Stock Performance

Shares of DTIL stock opened at $9.84 on Tuesday. The stock’s 50-day moving average is $12.72 and its two-hundred day moving average is $11.78. Precision BioSciences has a 1 year low of $8.25 and a 1 year high of $27.02. The firm has a market cap of $68.05 million, a price-to-earnings ratio of -0.61 and a beta of 1.53.

Precision BioSciences (NASDAQ:DTIL) last issued its earnings results on Wednesday, March 27th. The company reported ($3.35) EPS for the quarter, missing the consensus estimate of $3.00 by ($6.35). The company had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $28.50 million. Precision BioSciences had a negative return on equity of 204.66% and a negative net margin of 125.84%. As a group, research analysts predict that Precision BioSciences will post -3.93 EPS for the current year.

Hedge Funds Weigh In On Precision BioSciences

Institutional investors have recently made changes to their positions in the stock. Curi Wealth Management LLC boosted its stake in shares of Precision BioSciences by 42.0% during the third quarter. Curi Wealth Management LLC now owns 339,801 shares of the company’s stock valued at $116,000 after acquiring an additional 100,530 shares during the last quarter. Tejara Capital Ltd lifted its holdings in Precision BioSciences by 100.7% in the 3rd quarter. Tejara Capital Ltd now owns 398,614 shares of the company’s stock valued at $136,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Precision BioSciences by 8.3% during the 3rd quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company’s stock worth $1,073,000 after purchasing an additional 242,425 shares during the last quarter. 37.99% of the stock is owned by institutional investors and hedge funds.

About Precision BioSciences

Precision BioSciences, Inc, an advanced gene editing company, develops in vivo gene editing therapies for gene edits, including gene elimination, insertion, and excision in the United States. The company offers ARCUS, a genome editing platform to DNA genome insertion, deletion, and repair. It also provides PBGENE-HBV for the treatment of chronic hepatitis B virus (HBV) to eliminate covalently closed circular DNA with direct cuts and edits as well as to inactivate integrated HBV DNA with the goal of long-lasting reductions in hepatitis B surface antigen; PBGENE-PMM for the treatment of m.3243 associated primary mitochondrial myopathy (PMM) which is expected to submit an IND and/or CTA.