Precision BioSciences (NASDAQ:DTIL) Raised to “Buy” at Zacks Investment Research

Precision BioSciences (NASDAQ:DTIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $13.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.35% from the stock’s current price.

According to Zacks, “Precision BioSciences, Inc. operates as a genome editing company and develops therapeutic products primarily in the United States. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. Precision BioSciences Inc. is based in Durham, North Carolina. “

DTIL has been the subject of several other reports. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Precision BioSciences in a research note on Wednesday. BTIG Research began coverage on shares of Precision BioSciences in a research note on Friday, August 9th. They set a “buy” rating and a $22.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $21.17.

Shares of Precision BioSciences stock traded up $0.31 on Friday, hitting $12.11. The company had a trading volume of 1,590,400 shares, compared to its average volume of 239,265. Precision BioSciences has a 52 week low of $6.24 and a 52 week high of $19.00. The business has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $10.78.

Precision BioSciences (NASDAQ:DTIL) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.15. The business had revenue of $4.87 million for the quarter, compared to analyst estimates of $5.25 million. On average, analysts forecast that Precision BioSciences will post -1.71 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of DTIL. Edge Wealth Management LLC purchased a new stake in shares of Precision BioSciences in the 2nd quarter valued at approximately $53,000. Strs Ohio purchased a new stake in shares of Precision BioSciences in the 2nd quarter valued at approximately $31,000. Parallel Advisors LLC purchased a new stake in shares of Precision BioSciences in the 2nd quarter valued at approximately $111,000. Wells Fargo & Company MN lifted its position in shares of Precision BioSciences by 66.7% in the 2nd quarter. Wells Fargo & Company MN now owns 883,037 shares of the company’s stock valued at $11,701,000 after acquiring an additional 353,208 shares in the last quarter. Finally, MUFG Americas Holdings Corp purchased a new stake in shares of Precision BioSciences in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 43.26% of the company’s stock.

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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Analyst Recommendations for Precision BioSciences (NASDAQ:DTIL)

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