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

Precision BioSciences (NASDAQ:DTIL)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $60.00 target price 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 target price on the stock in a report on Friday, January 10th.

Precision BioSciences Stock Performance

DTIL stock traded up $0.48 during midday trading on Wednesday, reaching $5.63. 196,558 shares of the company’s stock traded hands, compared to its average volume of 791,781. The company has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $7.38. 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 52 week low of $3.61 and a 52 week high of $19.43. The firm has a market capitalization of $43.18 million, a PE ratio of 93.85 and a beta of 1.51.

Insider Activity

In other news, 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 transaction of $49,274.73. Following the completion of the transaction, the insider now directly owns 87,440 shares in the company, valued at $418,837.60. The trade was a 10.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Amoroso sold 36,838 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $4.67, for a total transaction of $172,033.46. Following the transaction, the chief executive officer now owns 107,087 shares of the company’s stock, 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. Insiders bought 8,734 shares of company stock worth $39,946 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lynx1 Capital Management LP purchased a new position in Precision BioSciences in the fourth quarter worth $2,919,000. Janus Henderson Group PLC grew its position in 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 acquiring an additional 68,943 shares in the last quarter. Tang Capital Management LLC grew its position in Precision BioSciences by 8.0% in the fourth quarter. Tang Capital Management LLC now owns 673,332 shares of the company’s stock worth $2,565,000 after acquiring an additional 50,000 shares in the last quarter. Citadel Advisors LLC grew its position in Precision BioSciences by 58.0% in the fourth quarter. Citadel Advisors LLC now owns 153,675 shares of the company’s stock worth $586,000 after acquiring an additional 56,400 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Precision BioSciences by 36.2% in the fourth quarter. Renaissance Technologies LLC now owns 109,798 shares of the company’s stock worth $418,000 after acquiring an additional 29,200 shares in the last quarter. 37.99% of the stock is currently 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.