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

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

Wall Street Analysts Forecast Growth

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

Precision BioSciences Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 9.22 and a quick ratio of 9.22. The business has a 50 day simple moving average of $5.10 and a 200 day simple moving average of $6.96. The company has a market capitalization of $38.82 million, a price-to-earnings ratio of 84.35 and a beta of 1.59.

Insiders Place Their Bets

In other Precision BioSciences news, insider J. Jefferson Smith sold 10,287 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $4.79, for a total transaction of $49,274.73. Following the transaction, the insider now directly owns 87,440 shares in the company, valued at $418,837.60. This represents a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Amoroso sold 36,838 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $4.67, for a total value of $172,033.46. Following the transaction, the chief executive officer now owns 107,087 shares in the company, valued at $500,096.29. This trade represents a 25.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 8,734 shares of company stock worth $39,946 and have sold 47,279 shares worth $222,064. 4.00% of the stock is owned by insiders.

Institutional Trading of Precision BioSciences

Several hedge funds have recently modified their holdings of DTIL. Janus Henderson Group PLC raised its stake in shares of Precision BioSciences by 10.9% in the third quarter. Janus Henderson Group PLC now owns 702,069 shares of the company’s stock valued at $6,322,000 after acquiring an additional 68,943 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Precision BioSciences by 40.7% in the third quarter. Geode Capital Management LLC now owns 65,974 shares of the company’s stock valued at $591,000 after acquiring an additional 19,088 shares in the last quarter. Moloney Securities Asset Management LLC raised its stake in shares of Precision BioSciences by 177.0% in the fourth quarter. Moloney Securities Asset Management LLC now owns 87,799 shares of the company’s stock valued at $335,000 after acquiring an additional 56,100 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at $48,000. Finally, Samalin Investment Counsel LLC acquired a new stake in shares of Precision BioSciences in the fourth quarter valued at $59,000. 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.