HC Wainwright Reiterates Buy Rating for Precision BioSciences (NASDAQ:DTIL)

HC Wainwright reaffirmed their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research report report published on Wednesday,Benzinga reports. HC Wainwright currently has a $60.00 price objective on the stock.

Separately, BMO Capital Markets raised shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Friday, January 10th.

Precision BioSciences Stock Up 0.3 %

Shares of NASDAQ:DTIL opened at $5.91 on Wednesday. Precision BioSciences has a 12 month low of $3.61 and a 12 month high of $19.43. The company’s 50-day moving average price is $4.87 and its two-hundred day moving average price is $7.33. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.34. The firm has a market cap of $45.33 million, a P/E ratio of 98.52 and a beta of 1.51.

Insider Activity

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

Institutional Trading of Precision BioSciences

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in Precision BioSciences during the 4th quarter worth approximately $48,000. Samalin Investment Counsel LLC acquired a new stake in Precision BioSciences during the 4th quarter worth approximately $59,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Precision BioSciences by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,534 shares of the company’s stock valued at $59,000 after purchasing an additional 2,805 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $67,000. Finally, Jane Street Group LLC acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at approximately $146,000. 37.99% of the stock is currently owned by institutional investors and hedge funds.

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.