Precision BioSciences (NASDAQ:DTIL) Shares Up 1% – What’s Next?

Precision BioSciences, Inc. (NASDAQ:DTIL) shot up 1% during mid-day trading on Wednesday . The company traded as high as $5.23 and last traded at $5.06. 35,588 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 579,306 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DTIL. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Precision BioSciences in a report on Wednesday, February 19th. BMO Capital Markets raised shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Friday, January 10th.

Precision BioSciences Price Performance

The stock has a market cap of $38.82 million, a price-to-earnings ratio of 84.35 and a beta of 1.59. The stock’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $6.96. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.34.

Insider Transactions at Precision BioSciences

In other Precision BioSciences news, CEO Michael Amoroso sold 36,838 shares of Precision BioSciences 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 of the company’s stock, valued at approximately $500,096.29. The trade was a 25.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider J. Jefferson Smith sold 10,287 shares of Precision BioSciences stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $4.79, for a total value 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. Over the last 90 days, insiders have acquired 8,734 shares of company stock worth $39,946 and have sold 47,279 shares worth $222,064. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Precision BioSciences

A number of large investors have recently bought and sold shares of the business. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Precision BioSciences by 22.0% in 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 during the period. Commonwealth Equity Services LLC acquired a new position in Precision BioSciences in the 4th quarter worth about $48,000. Samalin Investment Counsel LLC acquired a new position in Precision BioSciences in the 4th quarter worth about $59,000. XTX Topco Ltd acquired a new position in Precision BioSciences in the 4th quarter worth about $67,000. Finally, Geode Capital Management LLC raised its holdings in Precision BioSciences by 40.7% in the 3rd quarter. Geode Capital Management LLC now owns 65,974 shares of the company’s stock worth $591,000 after purchasing an additional 19,088 shares during the period. 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.