Precision BioSciences (NASDAQ:DTIL) Announces Quarterly Earnings Results, Misses Estimates By $1.11 EPS

Precision BioSciences (NASDAQ:DTIL) issued its quarterly earnings results on Wednesday. The company reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($1.11), Zacks reports. The company had revenue of $3.47 million for the quarter, compared to analysts’ expectations of $4.28 million. Precision BioSciences had a negative return on equity of 23.69% and a net margin of 11.48%.

Precision BioSciences Stock Performance

Shares of DTIL traded up $0.12 during midday trading on Friday, reaching $4.66. 23,340 shares of the stock were exchanged, compared to its average volume of 172,074. The company has a market capitalization of $35.72 million, a price-to-earnings ratio of 77.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 9.22 and a quick ratio of 9.22. Precision BioSciences has a twelve month low of $3.61 and a twelve month high of $15.97. The business’s 50-day moving average price is $5.12 and its 200 day moving average price is $6.59.

Analyst Upgrades and Downgrades

DTIL has been the topic of a number of recent research reports. BMO Capital Markets upgraded shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Friday, January 10th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Precision BioSciences in a research report on Friday.

Insider Activity at Precision BioSciences

In related news, insider J. Jefferson Smith sold 10,287 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.79, for a total value of $49,274.73. Following the completion of the sale, the insider now owns 87,440 shares in the company, valued at $418,837.60. This represents a 10.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Amoroso sold 36,838 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $4.67, for a total transaction of $172,033.46. Following the sale, the chief executive officer now owns 107,087 shares of the company’s stock, valued at approximately $500,096.29. This represents a 25.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,243 shares of company stock valued at $227,424 in the last three months. 4.00% of the stock is currently owned by company insiders.

Precision BioSciences Company Profile

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.