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Precision Biosciences Inc (NASDAQ: DTIL) Stock’s Potential for Success in the Coming Months

In the latest trading session, 0.62 million Precision Biosciences Inc (NASDAQ:DTIL) shares changed hands as the company’s beta touched 1.40. With the company’s most recent per share price at $0.39 changing hands around $0.01 or 2.73% at last look, the market valuation stands at $48.10M. DTIL’s current price is a discount, trading about -230.77% off its 52-week high of $1.29. The share price had its 52-week low at $0.28, which suggests the last value was 28.21% up since then. When we look at Precision Biosciences Inc’s average trading volume, we note the 10-day average is 0.67 million shares, with the 3-month average coming to 2.27.

Precision Biosciences Inc (NASDAQ:DTIL) trade information

Instantly DTIL is in green as seen in intraday trades today. With action 3.57%, the performance over the past five days has been green. The jump to weekly highs of 0.4120 added 2.73% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.08%, with the 5-day performance at 3.57% in the green. However, in the 30-day time frame, Precision Biosciences Inc (NASDAQ:DTIL) is -7.61% down. Looking at the short shares, we see there were 1.65 million shares sold at short interest cover period of 0.56 days.

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Precision Biosciences Inc (DTIL) estimates and forecasts

Data shows that the Precision Biosciences Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.26% over the past 6 months, a 77.17% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Precision Biosciences Inc will rise 73.10%, while the growth in revenue is estimated to hit 65.20% for the next quarter. Year-over-year growth is forecast to reach 112.40% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $12.48 million. 2 analysts are of the opinion that Precision Biosciences Inc’s revenue for the quarter ending Mar 2024 will be $9.66 million. The company’s revenue for the corresponding quarters a year ago was $10.6 million and -$ respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.80%. The estimates for the next quarter sales put growth at –.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -24.76%. The 2024 estimates are for Precision Biosciences Inc earnings to increase by 60.47%.

DTIL Dividends

Precision Biosciences Inc is expected to release its next quarterly earnings report between March 07 and March 11.

Precision Biosciences Inc (NASDAQ:DTIL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 14.24% of Precision Biosciences Inc shares while 35.00% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 40.81%. There are 35.00% institutions holding the Precision Biosciences Inc stock share, with Capital World Investors the top institutional holder. As of Sep 29, 2023, the company held 5.51% of the shares, roughly 6.72 million DTIL shares worth $2.62 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.85% or 4.69 million shares worth $1.83 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Dec 30, 2023 were Smallcap World Fund and Vanguard Total Stock Market Index Fund. With 5.12 million shares estimated at $2.0 million under it, the former controlled 4.20% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.00% of the shares, roughly 2.44 million shares worth around $0.95 million.

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