Short Interest in Precision BioSciences, Inc. (NASDAQ:DTIL) Decreases By 16.2%

Precision BioSciences, Inc. (NASDAQ:DTIL) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,171,027 shares, a decrease of 16.2% from the March 15th total of 1,396,801 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average daily volume of 439,968 shares, the short-interest ratio is currently 2.7 days.

Precision BioSciences Stock Up 4.6%

Shares of Precision BioSciences stock opened at $7.88 on Friday. The stock’s 50-day moving average is $5.42 and its 200 day moving average is $5.26. Precision BioSciences has a one year low of $3.53 and a one year high of $8.82. The firm has a market cap of $203.30 million, a price-to-earnings ratio of -1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 13.32 and a quick ratio of 13.32.

Insider Buying and Selling

In other news, CEO Michael Amoroso sold 34,799 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $4.17, for a total value of $145,111.83. Following the completion of the sale, the chief executive officer owned 196,154 shares of the company’s stock, valued at approximately $817,962.18. This represents a 15.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Alexander Kelly sold 15,213 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $4.03, for a total value of $61,308.39. Following the completion of the sale, the chief financial officer directly owned 106,448 shares of the company’s stock, valued at approximately $428,985.44. The trade was a 12.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,845 shares of company stock valued at $376,677 in the last three months. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Precision BioSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Precision BioSciences by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock worth $326,000 after buying an additional 4,025 shares during the period. Bridgeway Capital Management LLC acquired a new position in shares of Precision BioSciences during the 2nd quarter valued at $260,000. Corient Private Wealth LLC bought a new position in Precision BioSciences during the second quarter worth $425,000. Vanguard Personalized Indexing Management LLC bought a new position in Precision BioSciences during the third quarter worth $72,000. Finally, Vanguard Group Inc. grew its holdings in Precision BioSciences by 21.5% in the third quarter. Vanguard Group Inc. now owns 492,596 shares of the company’s stock worth $2,719,000 after purchasing an additional 87,242 shares during the period. 37.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Precision BioSciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. JonesTrading restated a “buy” rating and issued a $30.00 price target on shares of Precision BioSciences in a research report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Precision BioSciences in a research note on Monday, December 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $19.00 price objective on shares of Precision BioSciences in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Precision BioSciences currently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Precision BioSciences Company Profile

Precision BioSciences is a clinical‐stage genome editing company that leverages its proprietary ARCUS platform to develop targeted gene therapies. ARCUS, an engineered nuclease derived from a naturally occurring enzyme, enables precise DNA modifications for both in vivo and ex vivo applications. The company’s pipeline spans genetic diseases—including rare monogenic disorders—and immuno‐oncology, where it is advancing allogeneic cell therapy candidates designed to address hematologic malignancies and solid tumors.

Founded in 2006 as a spin‐out from research at the University of North Carolina, Precision BioSciences is headquartered in Durham, North Carolina, with additional research and manufacturing capabilities located in the Research Triangle Park area.