Precision BioSciences, Inc. (NASDAQ:DTIL – Free Report) – Analysts at HC Wainwright boosted their Q3 2023 earnings per share estimates for shares of Precision BioSciences in a research report issued to clients and investors on Monday, August 7th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of ($0.21) for the quarter, up from their previous estimate of ($0.22). HC Wainwright has a “Buy” rating on the stock. The consensus estimate for Precision BioSciences’ current full-year earnings is ($0.94) per share. HC Wainwright also issued estimates for Precision BioSciences’ Q4 2023 earnings at ($0.20) EPS, FY2023 earnings at ($0.75) EPS, FY2024 earnings at ($0.58) EPS, FY2025 earnings at ($0.32) EPS and FY2027 earnings at $0.32 EPS.
Separately, BTIG Research reduced their price target on Precision BioSciences from $6.00 to $2.00 and set a “buy” rating for the company in a report on Friday, July 28th.
Precision BioSciences Price Performance
DTIL opened at $0.54 on Thursday. The business’s 50-day moving average price is $0.62 and its two-hundred day moving average price is $0.83. Precision BioSciences has a 1 year low of $0.51 and a 1 year high of $2.13. The company has a market capitalization of $62.11 million, a price-to-earnings ratio of -0.67 and a beta of 1.28.
Precision BioSciences (NASDAQ:DTIL – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Precision BioSciences had a negative net margin of 192.10% and a negative return on equity of 163.24%. The firm had revenue of $8.78 million during the quarter, compared to analyst estimates of $6.58 million.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in DTIL. JPMorgan Chase & Co. lifted its position in Precision BioSciences by 32.6% during the first quarter. JPMorgan Chase & Co. now owns 2,107,506 shares of the company’s stock valued at $1,588,000 after purchasing an additional 517,702 shares during the last quarter. State Street Corp increased its stake in Precision BioSciences by 10.1% in the 1st quarter. State Street Corp now owns 244,349 shares of the company’s stock worth $184,000 after buying an additional 22,500 shares during the period. Great Point Partners LLC increased its stake in Precision BioSciences by 113.1% in the 1st quarter. Great Point Partners LLC now owns 8,099,799 shares of the company’s stock worth $6,104,000 after buying an additional 4,298,494 shares during the period. Jacob Asset Management of New York LLC increased its position in Precision BioSciences by 12.3% during the 1st quarter. Jacob Asset Management of New York LLC now owns 365,412 shares of the company’s stock valued at $275,000 after purchasing an additional 40,000 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Precision BioSciences by 8.1% in the 1st quarter. Acadian Asset Management LLC now owns 2,905,818 shares of the company’s stock valued at $2,188,000 after buying an additional 218,323 shares in the last quarter. 42.52% of the stock is owned by hedge funds and other institutional investors.
About Precision BioSciences
Precision BioSciences, Inc, a clinical stage gene editing company, develops ex vivo allogeneic chimeric antigen receptor (CAR) T immunotherapies and in vivo therapies for genetic and infectious diseases in the United States. The company offers ARCUS, a genome editing platform to cure genetic disorders.
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