Precision BioSciences (NASDAQ:DTIL) Posts Earnings Results, Misses Expectations 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 analysts’ consensus estimates of ($2.09) by ($1.11), Zacks reports. The company had revenue of $3.47 million during 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

Precision BioSciences stock traded up $0.07 during mid-day trading on Friday, reaching $4.61. The company’s stock had a trading volume of 27,326 shares, compared to its average volume of 172,313. The firm’s fifty day moving average price is $5.12 and its two-hundred day moving average price is $6.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 9.22 and a current ratio of 9.22. Precision BioSciences has a 12-month low of $3.61 and a 12-month high of $15.97. The company has a market capitalization of $35.37 million, a P/E ratio of 77.60 and a beta of 1.59.

Wall Street Analysts Forecast Growth

DTIL has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Precision BioSciences in a research note on Friday. BMO Capital Markets upgraded 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.

Insiders Place Their Bets

In other news, CEO Michael Amoroso sold 36,838 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was 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. The trade was a 25.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $49,274.73. Following the completion of the transaction, the insider now owns 87,440 shares in the company, valued at approximately $418,837.60. This trade represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,243 shares of company stock worth $227,424 over 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.