Precision BioSciences, Inc. (NASDAQ:DTIL) Short Interest Update

Precision BioSciences, Inc. (NASDAQ:DTIL) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 618,300 shares, a drop of 16.1% from the February 28th total of 736,600 shares. Based on an average trading volume of 478,100 shares, the short-interest ratio is presently 1.3 days. Approximately 17.9% of the company’s shares are short sold.

Precision BioSciences Stock Performance

NASDAQ:DTIL traded up $0.23 during trading hours on Wednesday, hitting $4.72. 32,462 shares of the company traded hands, compared to its average volume of 170,530. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $36.21 million, a price-to-earnings ratio of 78.68 and a beta of 1.59. The firm has a 50-day moving average of $5.11 and a 200 day moving average of $6.42. Precision BioSciences has a twelve month low of $3.61 and a twelve month high of $15.97.

Precision BioSciences (NASDAQ:DTIL) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($1.11). Precision BioSciences had a net margin of 11.48% and a negative return on equity of 23.69%. The company had revenue of $3.47 million for the quarter, compared to analyst estimates of $4.28 million. On average, analysts forecast that Precision BioSciences will post -1.23 EPS for the current year.

Analyst Ratings Changes

DTIL has been the topic of a number of analyst reports. BMO Capital Markets raised 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. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Precision BioSciences in a research note on Friday, March 28th.

Insider Transactions at Precision BioSciences

In related news, insider J. Jefferson Smith sold 10,287 shares of the 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 completion of the sale, the insider now directly owns 87,440 shares in the company, valued at approximately $418,837.60. This trade represents a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Amoroso sold 36,838 shares of the business’s stock in a transaction dated 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 $500,096.29. This trade represents a 25.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,243 shares of company stock valued at $227,424 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Precision BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new position in Precision BioSciences during the fourth quarter worth $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 raised its stake 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 acquiring an additional 2,805 shares during the last quarter. XTX Topco Ltd bought a new position in Precision BioSciences in the 4th quarter valued at $67,000. Finally, Jane Street Group LLC bought a new position in shares of Precision BioSciences in the fourth quarter valued at about $146,000. Institutional investors 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.