Precision BioSciences (NASDAQ:DTIL) Reaches New 1-Year Low at $11.62

Precision BioSciences Inc (NASDAQ:DTIL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $11.62 and last traded at $11.62, with a volume of 2914 shares. The stock had previously closed at $11.94.

DTIL has been the subject of a number of recent analyst reports. Barclays initiated coverage on Precision BioSciences in a report on Monday, April 22nd. They set an “overweight” rating and a $24.00 price target for the company. Jefferies Financial Group initiated coverage on Precision BioSciences in a report on Monday, April 22nd. They set a “buy” rating for the company. HC Wainwright initiated coverage on Precision BioSciences in a report on Tuesday, July 16th. They set a “buy” rating and a $21.00 price target for the company. Goldman Sachs Group initiated coverage on Precision BioSciences in a report on Monday, April 22nd. They set a “buy” rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on Precision BioSciences in a report on Monday, April 22nd. They set an “overweight” rating and a $23.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $23.00.

The company’s fifty day moving average price is $13.56.

Precision BioSciences (NASDAQ:DTIL) last posted its earnings results on Monday, April 29th. The company reported ($1.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.80). The firm had revenue of $5.46 million during the quarter, compared to analyst estimates of $5.94 million. As a group, analysts predict that Precision BioSciences Inc will post -1.57 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Vivo Capital LLC purchased a new stake in shares of Precision BioSciences in the 1st quarter valued at about $5,035,000. Edge Wealth Management LLC purchased a new stake in shares of Precision BioSciences in the 2nd quarter valued at about $53,000. Victory Capital Management Inc. purchased a new stake in shares of Precision BioSciences in the 1st quarter valued at about $427,000. Dean Capital Investments Management LLC purchased a new stake in shares of Precision BioSciences in the 1st quarter valued at about $618,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Precision BioSciences in the 1st quarter valued at about $3,534,000. 39.40% of the stock is owned by institutional investors and hedge funds.

About Precision BioSciences (NASDAQ:DTIL)

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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