Precision BioSciences (NASDAQ:DTIL) Raised to “Outperform” at BMO Capital Markets

Precision BioSciences (NASDAQ:DTIL) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a $34.00 price objective on the stock. BMO Capital Markets’ price objective points to a potential upside of 496.49% from the stock’s current price.

Precision BioSciences Price Performance

Shares of DTIL opened at $5.70 on Friday. The company has a market cap of $43.72 million, a P/E ratio of 95.02 and a beta of 1.41. Precision BioSciences has a fifty-two week low of $3.61 and a fifty-two week high of $19.43. 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 firm’s 50 day moving average price is $6.09 and its 200 day moving average price is $8.26.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Precision BioSciences stock. Geode Capital Management LLC raised its holdings in Precision BioSciences, Inc. (NASDAQ:DTIL) by 40.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,974 shares of the company’s stock after buying an additional 19,088 shares during the period. Geode Capital Management LLC owned about 0.86% of Precision BioSciences worth $591,000 as of its most recent SEC filing. Institutional investors and hedge funds own 37.99% 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.