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

Precision BioSciences, Inc. (NASDAQ:DTIL) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 234,800 shares, a decrease of 8.0% from the August 15th total of 255,200 shares. Currently, 6.3% of the company’s shares are sold short. Based on an average daily volume of 36,400 shares, the days-to-cover ratio is currently 6.5 days.

Precision BioSciences Price Performance

NASDAQ DTIL traded down $0.62 during trading hours on Wednesday, hitting $9.60. The company had a trading volume of 84,246 shares, compared to its average volume of 77,058. The firm’s 50 day moving average is $9.74 and its 200 day moving average is $10.99. Precision BioSciences has a fifty-two week low of $8.25 and a fifty-two week high of $19.43. The company has a market capitalization of $66.49 million, a price-to-earnings ratio of -1.29 and a beta of 1.70.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Thursday, August 1st. The company reported $3.46 EPS for the quarter, beating the consensus estimate of ($0.77) by $4.23. Precision BioSciences had a negative return on equity of 7.64% and a net margin of 19.36%. The business had revenue of $49.90 million for the quarter, compared to the consensus estimate of $8.50 million. During the same period last year, the business posted ($3.00) EPS. On average, equities analysts anticipate that Precision BioSciences will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Precision BioSciences

A hedge fund recently bought a new stake in Precision BioSciences stock. Janus Henderson Group PLC acquired a new stake in Precision BioSciences, Inc. (NASDAQ:DTIL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 573,052 shares of the company’s stock, valued at approximately $7,739,000. Janus Henderson Group PLC owned about 8.29% of Precision BioSciences at the end of the most recent reporting period. 37.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Precision BioSciences in a research report on Thursday, August 22nd.

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.