Lynx1 Capital Management LP Makes New Investment in Precision BioSciences, Inc. (NASDAQ:DTIL)

Lynx1 Capital Management LP purchased a new stake in Precision BioSciences, Inc. (NASDAQ:DTIL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 766,051 shares of the company's stock, valued at approximately $2,919,000. Precision BioSciences comprises approximately 1.1% of Lynx1 Capital Management LP's portfolio, making the stock its 12th largest holding. Lynx1 Capital Management LP owned 9.99% of Precision BioSciences as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new position in Precision BioSciences in the fourth quarter valued at about $48,000. Samalin Investment Counsel LLC bought a new position in Precision BioSciences in the 4th quarter valued at approximately $59,000. XTX Topco Ltd bought a new position in Precision BioSciences in the 4th quarter valued at approximately $67,000. Dimensional Fund Advisors LP acquired a new stake in Precision BioSciences during the 4th quarter worth approximately $211,000. Finally, Moloney Securities Asset Management LLC grew its holdings in Precision BioSciences by 177.0% during the 4th quarter. Moloney Securities Asset Management LLC now owns 87,799 shares of the company's stock worth $335,000 after acquiring an additional 56,100 shares during the last quarter. Institutional investors and hedge funds own 37.99% of the company's stock.

Wall Street Analysts Forecast Growth

DTIL has been the topic of a number of recent research reports. HC Wainwright reiterated a "buy" rating and set a $60.00 price target on shares of Precision BioSciences in a report on Friday, March 28th. BMO Capital Markets raised 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.

Precision BioSciences Stock Performance

NASDAQ:DTIL opened at $5.33 on Friday. 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, Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.44. The company has a 50 day simple moving average of $5.06 and a two-hundred day simple moving average of $5.83. The company has a market capitalization of $56.23 million, a PE ratio of 88.85 and a beta of 1.59.

Precision BioSciences (NASDAQ:DTIL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($3.20) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($1.11). The firm had revenue of $3.47 million for the quarter, compared to analyst estimates of $4.28 million. Precision BioSciences had a negative return on equity of 23.69% and a net margin of 11.48%. Research analysts anticipate that Precision BioSciences, Inc. will post -1.23 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.