Precision BioSciences (NASDAQ:DTIL) Trading Up 12.1% – Here’s Why
by Mitch Edgeman · The Markets DailyPrecision BioSciences, Inc. (NASDAQ:DTIL – Get Free Report) shares rose 12.1% during trading on Thursday . The company traded as high as $5.73 and last traded at $5.67. Approximately 507,091 shares changed hands during mid-day trading, an increase of 166% from the average daily volume of 190,294 shares. The stock had previously closed at $5.06.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Precision BioSciences in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.
Read Our Latest Report on DTIL
Precision BioSciences Stock Performance
The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.45 and a current ratio of 3.45. The company has a market cap of $129.84 million, a P/E ratio of -0.67 and a beta of 1.28. The stock’s fifty day moving average price is $4.15 and its two-hundred day moving average price is $4.98.
Precision BioSciences (NASDAQ:DTIL – Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported $1.05 earnings per share for the quarter. Precision BioSciences had a negative net margin of 11,977.36% and a negative return on equity of 233.77%. As a group, equities analysts predict that Precision BioSciences, Inc. will post -1.23 earnings per share for the current year.
Insider Activity
In related news, insider J. Jefferson Smith sold 10,200 shares of Precision BioSciences stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $4.03, for a total value of $41,106.00. Following the transaction, the insider directly owned 110,184 shares of the company’s stock, valued at $444,041.52. The trade was a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Amoroso sold 20,559 shares of Precision BioSciences stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $3.84, for a total transaction of $78,946.56. Following the transaction, the chief executive officer directly owned 243,392 shares of the company’s stock, valued at $934,625.28. This represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 7,081 shares of company stock valued at $33,714 and sold 93,845 shares valued at $376,677. Insiders own 4.50% of the company’s stock.
Institutional Trading of Precision BioSciences
Several institutional investors and hedge funds have recently modified their holdings of DTIL. Geode Capital Management LLC lifted its stake in Precision BioSciences by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock valued at $326,000 after acquiring an additional 4,025 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Precision BioSciences during the 2nd quarter worth approximately $260,000. Corient Private Wealth LLC purchased a new position in shares of Precision BioSciences in the 2nd quarter worth approximately $425,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Precision BioSciences in the third quarter valued at approximately $72,000. Finally, Vanguard Group Inc. grew its holdings in shares of Precision BioSciences by 21.5% in the third quarter. Vanguard Group Inc. now owns 492,596 shares of the company’s stock valued at $2,719,000 after acquiring an additional 87,242 shares in the last quarter. 37.99% of the stock is owned by hedge funds and other institutional investors.
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.