Precision BioSciences’ (DTIL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $60.00 price target 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 target for the company in a research report on Friday, January 10th.

Precision BioSciences Trading Up 1.7 %

Shares of DTIL stock opened at $5.45 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 9.22 and a current ratio of 9.22. Precision BioSciences has a fifty-two week low of $3.61 and a fifty-two week high of $15.97. The stock has a 50 day simple moving average of $5.14 and a two-hundred day simple moving average of $6.73. The company has a market cap of $41.81 million, a P/E ratio of 90.85 and a beta of 1.59.

Insiders Place Their Bets

In related news, CEO Michael Amoroso sold 36,838 shares of Precision BioSciences stock in a transaction that occurred on 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 directly owns 107,087 shares in the company, valued at approximately $500,096.29. The trade was a 25.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J. Jefferson Smith sold 10,287 shares of the business’s stock in a transaction 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 owns 87,440 shares in the company, valued at approximately $418,837.60. The trade was a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 8,734 shares of company stock valued at $39,946 and sold 47,279 shares valued at $222,064. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Precision BioSciences

Institutional investors and hedge funds have recently modified their holdings of the company. Lynx1 Capital Management LP purchased a new position in shares of Precision BioSciences during the fourth quarter worth about $2,919,000. Janus Henderson Group PLC grew 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 worth $6,322,000 after purchasing an additional 68,943 shares during the last quarter. Tang Capital Management LLC grew its position in shares of Precision BioSciences by 8.0% in the 4th quarter. Tang Capital Management LLC now owns 673,332 shares of the company’s stock worth $2,565,000 after buying an additional 50,000 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Precision BioSciences by 58.0% in the fourth quarter. Citadel Advisors LLC now owns 153,675 shares of the company’s stock valued at $586,000 after acquiring an additional 56,400 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Precision BioSciences by 36.2% during the 4th quarter. Renaissance Technologies LLC now owns 109,798 shares of the company’s stock valued at $418,000 after purchasing an additional 29,200 shares in the last quarter. 37.99% of the stock is owned by hedge funds and other institutional investors.

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.