Precision BioSciences’ (DTIL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $60.00 target price on the stock.

Separately, BMO Capital Markets upgraded shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Friday, January 10th.

Precision BioSciences Price Performance

NASDAQ:DTIL opened at $5.91 on Wednesday. The stock has a market cap of $45.33 million, a P/E ratio of 98.52 and a beta of 1.51. Precision BioSciences has a one year low of $3.61 and a one year high of $19.43. The company has a fifty day moving average price of $4.87 and a 200 day moving average price of $7.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 9.22 and a quick ratio of 9.22.

Insider Activity

In other news, CEO Michael Amoroso sold 36,838 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $4.67, for a total value of $172,033.46. Following the completion of the transaction, the chief executive officer now owns 107,087 shares in the company, valued at approximately $500,096.29. This represents a 25.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider J. Jefferson Smith sold 10,287 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.79, for a total transaction of $49,274.73. Following the completion of the transaction, the insider now owns 87,440 shares of the company’s stock, valued at approximately $418,837.60. This represents a 10.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 8,734 shares of company stock worth $39,946. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Precision BioSciences

A number of hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new stake in shares of Precision BioSciences during the 4th quarter worth about $48,000. Samalin Investment Counsel LLC acquired a new stake in shares of Precision BioSciences during the 4th quarter worth about $59,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Precision BioSciences by 22.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,534 shares of the company’s stock worth $59,000 after purchasing an additional 2,805 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Precision BioSciences during the 4th quarter worth about $67,000. Finally, Jane Street Group LLC acquired a new stake in shares of Precision BioSciences during the 4th quarter worth about $146,000. Institutional investors and hedge funds own 37.99% of the company’s stock.

About Precision BioSciences

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.