Precision BioSciences Inc (NASDAQ:DTIL) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 2,860,000 shares, a growth of 8.3% from the January 15th total of 2,640,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 8.9% of the shares of the company are sold short.
In related news, insider Christopher Heery purchased 2,485 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $12.08 per share, for a total transaction of $30,018.80. Following the completion of the transaction, the insider now owns 250 shares of the company’s stock, valued at $3,020. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently added to or reduced their stakes in DTIL. Bank of America Corp DE grew its holdings in Precision BioSciences by 380.9% during the fourth quarter. Bank of America Corp DE now owns 16,707 shares of the company’s stock worth $232,000 after buying an additional 13,233 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Precision BioSciences by 173.9% during the fourth quarter. Bank of New York Mellon Corp now owns 91,692 shares of the company’s stock worth $1,273,000 after buying an additional 58,213 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Precision BioSciences by 71.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,942,869 shares of the company’s stock worth $26,986,000 after buying an additional 811,561 shares in the last quarter. Marshall Wace North America L.P. grew its stake in Precision BioSciences by 268.3% in the 4th quarter. Marshall Wace North America L.P. now owns 4,387 shares of the company’s stock valued at $61,000 after purchasing an additional 3,196 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Precision BioSciences by 325.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 90,973 shares of the company’s stock valued at $1,264,000 after purchasing an additional 69,578 shares during the period. Hedge funds and other institutional investors own 42.87% of the company’s stock.
Precision BioSciences (NASDAQ:DTIL) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.15. Precision BioSciences had a negative return on equity of 78.51% and a negative net margin of 423.14%. The firm had revenue of $4.87 million for the quarter, compared to analysts’ expectations of $5.25 million. As a group, analysts expect that Precision BioSciences will post -1.42 earnings per share for the current year.
A number of research analysts recently commented on DTIL shares. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of Precision BioSciences in a research report on Tuesday, January 21st. Zacks Investment Research cut Precision BioSciences from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.67.
Precision BioSciences Company Profile
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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