Precision Biosciences Inc Down 8.83% To $1.59 After Earnings Miss

Precision Biosciences Inc (DTIL) said before open Monday that it lost $0.46 per share in quarter two 2022.

On the revenue line, the company reported $3.8 million, missing estimates by $1.2 million.

In the same quarter a year ago, the company earned $0.36 per share on revenue of $68.8 million.

The stock is down 8.83% to $1.59 after the report.

Precision Biosciences Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Precision Biosciences Inc has performed a little below average during the past few months. Before the report, Precision Biosciences Inc received a Long-Term Technical Rank by InvestorsObserver of 25, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $1.11 on June 16, 2022 and set a 52-week high on September 1, 2021 at $14.38.

Precision BioSciences Inc is a genome editing company dedicated to improving life through its genome editing platform, ARCUS. It leverages ARCUS in the development of its product candidates, which are designed to treat human diseases and provide food and agricultural solutions. The company's segments include Therapeutics and Food out of which the Therapeutics segment act as a key revenue driver for the firm.