Precision BioSciences Inc (NASDAQ:DTIL) – Equities researchers at Jefferies Financial Group increased their FY2023 earnings estimates for Precision BioSciences in a research report issued on Wednesday, November 13th. Jefferies Financial Group analyst M. Raycroft now expects that the company will earn $0.95 per share for the year, up from their previous estimate of $0.90.
Precision BioSciences (NASDAQ:DTIL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, beating 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.
A number of other brokerages have also commented on DTIL. BTIG Research started coverage on Precision BioSciences in a report on Friday, August 9th. They issued a “buy” rating and a $22.00 price objective on the stock. Zacks Investment Research raised Precision BioSciences from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Precision BioSciences in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, Precision BioSciences presently has an average rating of “Buy” and a consensus target price of $21.17.
Shares of NASDAQ DTIL opened at $12.11 on Friday. The stock’s fifty day moving average price is $7.55 and its two-hundred day moving average price is $10.78. Precision BioSciences has a one year low of $6.24 and a one year high of $19.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Precision BioSciences during the 2nd quarter worth $31,000. Edge Wealth Management LLC acquired a new stake in Precision BioSciences in the second quarter valued at about $53,000. Northern Trust Corp acquired a new stake in Precision BioSciences in the second quarter valued at about $575,000. Vanguard Group Inc. boosted its stake in Precision BioSciences by 469.3% in the second quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock valued at $5,657,000 after buying an additional 352,010 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Precision BioSciences by 474.9% in the second quarter. Victory Capital Management Inc. now owns 136,830 shares of the company’s stock valued at $1,813,000 after buying an additional 113,030 shares in the last quarter. 43.26% of the stock is currently owned by institutional investors.
About Precision BioSciences
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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