Precision BioSciences (NASDAQ:DTIL) Coverage Initiated by Analysts at Oppenheimer

Investment analysts at Oppenheimer began coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $20.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 195.42% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of Precision BioSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Precision BioSciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Jefferies Financial Group restated a “buy” rating and issued a $19.00 price target on shares of Precision BioSciences in a research report on Friday, March 13th. JonesTrading restated a “buy” rating and issued a $30.00 price target on shares of Precision BioSciences in a research report on Friday, April 17th. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of Precision BioSciences in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Precision BioSciences presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Precision BioSciences Trading Up 4.2%

NASDAQ DTIL opened at $6.77 on Tuesday. Precision BioSciences has a 12 month low of $3.53 and a 12 month high of $8.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 14.02 and a quick ratio of 14.02. The company has a market capitalization of $174.67 million, a price-to-earnings ratio of -1.84 and a beta of 1.30. The company’s fifty day moving average price is $6.99 and its two-hundred day moving average price is $5.45.

Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 85.37%. The company had revenue of $10.84 million for the quarter, compared to the consensus estimate of $4.05 million. As a group, research analysts predict that Precision BioSciences will post -1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision BioSciences

Several large investors have recently bought and sold shares of the stock. Empery Asset Management LP acquired a new stake in shares of Precision BioSciences in the 4th quarter worth approximately $9,130,000. Aberdeen Group plc acquired a new stake in shares of Precision BioSciences in the 4th quarter worth approximately $8,897,000. Boothbay Fund Management LLC lifted its stake in shares of Precision BioSciences by 497.1% in the 4th quarter. Boothbay Fund Management LLC now owns 1,066,050 shares of the company’s stock worth $4,435,000 after acquiring an additional 887,515 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Precision BioSciences in the 4th quarter worth approximately $3,320,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Precision BioSciences in the 1st quarter worth approximately $3,289,000. Institutional investors and hedge funds own 37.99% of the company’s stock.

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.