Precision BioSciences (NASDAQ:DTIL) Issues Earnings Results, Misses Expectations By $1.11 EPS

Precision BioSciences (NASDAQ:DTIL) released 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. Precision BioSciences had a net margin of 11.48% and a negative return on equity of 23.69%. The company had revenue of $3.47 million during the quarter, compared to the consensus estimate of $4.28 million.

Precision BioSciences Stock Up 1.5 %

Shares of DTIL stock traded up $0.07 during mid-day trading on Friday, reaching $4.61. 21,615 shares of the company’s stock traded hands, compared to its average volume of 172,062. The company’s 50-day moving average price is $5.12 and its 200-day moving average price is $6.59. The company has a market cap of $35.36 million, a P/E ratio of 76.11 and a beta of 1.59. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.34. Precision BioSciences has a 12 month low of $3.61 and a 12 month high of $15.97.

Insider Buying and Selling

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 shares were sold at an average price of $4.67, for a total transaction of $172,033.46. Following the completion of the transaction, the chief executive officer now 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 link. Also, insider J. Jefferson Smith sold 10,287 shares of the business’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 completion of the sale, the insider now directly owns 87,440 shares in the company, valued at approximately $418,837.60. This represents 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 three months. 4.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DTIL has been the subject of several research analyst reports. BMO Capital Markets raised shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Precision BioSciences in a report on Friday.

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.