Precision BioSciences Inc (NASDAQ:DTIL) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 2,860,000 shares, an increase of 8.3% from the January 15th total of 2,640,000 shares. Approximately 8.9% of the shares of the stock are short sold. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 2.4 days.
Shares of Precision BioSciences stock traded down $0.14 during trading on Friday, hitting $8.27. 366,108 shares of the stock traded hands, compared to its average volume of 712,803. The firm’s fifty day moving average is $11.00 and its 200-day moving average is $10.38. Precision BioSciences has a 52 week low of $6.24 and a 52 week high of $23.67.
Precision BioSciences (NASDAQ:DTIL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.15. The firm had revenue of $4.87 million for the quarter, compared to analyst estimates of $5.25 million. Precision BioSciences had a negative return on equity of 78.51% and a negative net margin of 423.14%. As a group, analysts predict that Precision BioSciences will post -1.42 earnings per share for the current fiscal year.
DTIL has been the topic of several recent analyst reports. Zacks Investment Research cut Precision BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of Precision BioSciences in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Precision BioSciences has an average rating of “Buy” and an average price target of $21.67.
In other Precision BioSciences news, insider Christopher Heery purchased 2,485 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $12.08 per share, with a total value of $30,018.80. Following the acquisition, the insider now directly owns 250 shares in the company, valued at approximately $3,020. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Institutional investors have recently made changes to their positions in the company. Synovus Financial Corp bought a new position in shares of Precision BioSciences during the 4th quarter valued at about $28,000. Ladenburg Thalmann Financial Services Inc. bought a new position in Precision BioSciences during the 2nd quarter worth approximately $33,000. Royal Bank of Canada bought a new position in Precision BioSciences during the 2nd quarter worth approximately $38,000. MUFG Americas Holdings Corp grew its position in Precision BioSciences by 71.4% during the 3rd quarter. MUFG Americas Holdings Corp now owns 6,593 shares of the company’s stock worth $55,000 after acquiring an additional 2,747 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its position in Precision BioSciences by 268.3% during the 4th quarter. Marshall Wace North America L.P. now owns 4,387 shares of the company’s stock worth $61,000 after acquiring an additional 3,196 shares during the last quarter. Hedge funds and other institutional investors own 42.87% of the company’s stock.
About Precision BioSciences
Precision BioSciences, Inc operates as a genome editing company and develops therapeutic products in the United States. It operates through two segments, Therapeutic and Food. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.
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