What Is Precision BioSciences CAR T Pipeline Value? Analyst Lowers Price Target To Justify Valuation
Portfolio Pulse from Vandana Singh
Precision BioSciences Inc (NASDAQ:DTIL) has completed a strategic transaction with Imugene Limited for global rights to Azercabtagene Zapreleucel (azer-cel), Precision's lead allogeneic CAR T candidate for cancer. HC Wainwright analyst Patrick Trucchio lowered the price target for DTIL to $3 from $5, reflecting the value of the CAR T pipeline. The deal extends Precision's cash runway through 3Q25 and allows it to focus on internal gene editing programs. DTIL shares are down 14.6% at $0.45.
August 17, 2023 | 6:18 pm
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Precision BioSciences' strategic transaction with Imugene Limited is seen as a positive move by analysts, extending its cash runway through 3Q25. However, the price target for DTIL has been lowered to $3 from $5, reflecting the value of the CAR T pipeline. DTIL shares are currently down 14.6%.
The strategic transaction with Imugene Limited is seen as a positive move, extending Precision BioSciences' cash runway. However, the lowered price target reflects a potential decrease in the value of the CAR T pipeline, which could negatively impact the stock price. The current decrease in DTIL shares supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100