Precision BioSciences (DTIL - Free Report) shares soared 13.4% in the last trading session to close at $15.37. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.6% gain over the past four weeks.
Last week, the company announced robust financial results for the fourth quarter and full-year ended 2023. This might have been driving the share price rally.
This genome editing company is expected to post quarterly loss of $1.80 per share in its upcoming report, which represents a year-over-year change of +74%. Revenues are expected to be $10.5 million, up 19.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Precision BioSciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DTIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Precision BioSciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, ChromaDex (CDXC - Free Report) , closed the last trading session 3.7% higher at $3.61. Over the past month, CDXC has returned 116.2%.
For ChromaDex, the consensus EPS estimate for the upcoming report has changed -200% over the past month to -$0.03. This represents no change from what the company reported a year ago. ChromaDex currently has a Zacks Rank of #3 (Hold).
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Precision BioSciences (DTIL - Free Report) shares soared 13.4% in the last trading session to close at $15.37. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.6% gain over the past four weeks.
Last week, the company announced robust financial results for the fourth quarter and full-year ended 2023. This might have been driving the share price rally.
This genome editing company is expected to post quarterly loss of $1.80 per share in its upcoming report, which represents a year-over-year change of +74%. Revenues are expected to be $10.5 million, up 19.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Precision BioSciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DTIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Precision BioSciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, ChromaDex (CDXC - Free Report) , closed the last trading session 3.7% higher at $3.61. Over the past month, CDXC has returned 116.2%.
For ChromaDex, the consensus EPS estimate for the upcoming report has changed -200% over the past month to -$0.03. This represents no change from what the company reported a year ago. ChromaDex currently has a Zacks Rank of #3 (Hold).
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
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