Precision BioSciences (NASDAQ:DTIL) Issues Quarterly Earnings Results

Precision BioSciences (NASDAQ:DTIL) released its quarterly earnings data on Wednesday. The company reported ($3.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 11.48% and a negative return on equity of 23.69%.

Precision BioSciences Price Performance

Shares of DTIL stock traded up $0.10 during mid-day trading on Friday, hitting $4.64. 26,722 shares of the stock were exchanged, compared to its average volume of 172,078. Precision BioSciences has a 52-week low of $3.61 and a 52-week high of $15.97. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.34. The company has a market cap of $35.59 million, a PE ratio of 77.33 and a beta of 1.59. The firm has a fifty day moving average of $5.12 and a 200 day moving average of $6.59.

Analyst Upgrades and Downgrades

Several research firms recently commented on DTIL. BMO Capital Markets raised Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Precision BioSciences in a research note on Friday.

Insider Activity at Precision BioSciences

In other Precision BioSciences news, CEO Michael Amoroso sold 36,838 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $4.67, for a total value of $172,033.46. Following the sale, the chief executive officer now directly owns 107,087 shares of the company’s stock, valued at approximately $500,096.29. This trade represents a 25.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J. Jefferson Smith sold 10,287 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $4.79, for a total value of $49,274.73. Following the transaction, the insider now directly owns 87,440 shares of the company’s stock, valued at approximately $418,837.60. The trade was a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,243 shares of company stock worth $227,424 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

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.