Short Interest in Precision BioSciences, Inc. (NASDAQ:DTIL) Drops By 8.0%

by · The Markets Daily

Precision BioSciences, Inc. (NASDAQ:DTIL – Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 234,800 shares, a decline of 8.0% from the August 15th total of 255,200 shares. Approximately 6.3% of the company’s stock are sold short. Based on an average daily volume of 36,400 shares, the short-interest ratio is currently 6.5 days.

Hedge Funds Weigh In On Precision BioSciences

A hedge fund recently bought a new stake in Precision BioSciences stock. Janus Henderson Group PLC purchased a new position in shares of Precision BioSciences, Inc. (NASDAQ:DTIL – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 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 as of its most recent SEC filing. Institutional investors and hedge funds own 37.99% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Stock Report on Precision BioSciences

Precision BioSciences Trading Down 6.1 %

DTIL stock traded down $0.62 during trading on Thursday, hitting $9.60. 84,857 shares of the company’s stock were exchanged, compared to its average volume of 77,058. The business has a 50-day moving average price of $9.74 and a two-hundred day moving average price of $10.98. The stock has a market capitalization of $66.49 million, a price-to-earnings ratio of -1.29 and a beta of 1.70. Precision BioSciences has a 52-week low of $8.25 and a 52-week high of $19.43.

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

Precision BioSciences Company Profile

(Get Free Report)

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.

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