Precision BioSciences Inc (NASDAQ:DTIL) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 702,200 shares, a growth of 31.0% from the August 30th total of 535,900 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 147,200 shares, the short-interest ratio is presently 4.8 days.
A number of institutional investors have recently bought and sold shares of DTIL. FMR LLC purchased a new stake in shares of Precision BioSciences during the first quarter worth $67,102,000. BlackRock Inc. lifted its position in shares of Precision BioSciences by 511.8% during the second quarter. BlackRock Inc. now owns 635,076 shares of the company’s stock worth $8,414,000 after acquiring an additional 531,269 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Precision BioSciences by 66.7% during the second quarter. Wells Fargo & Company MN now owns 883,037 shares of the company’s stock worth $11,701,000 after acquiring an additional 353,208 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Precision BioSciences by 469.3% during the second quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock worth $5,657,000 after acquiring an additional 352,010 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Precision BioSciences during the first quarter worth $4,039,000. Institutional investors and hedge funds own 43.66% of the company’s stock.
A number of equities analysts have recently weighed in on DTIL shares. HC Wainwright started coverage on Precision BioSciences in a research note on Tuesday, July 16th. They issued a “buy” rating and a $21.00 target price on the stock. BTIG Research started coverage on Precision BioSciences in a research note on Friday, August 9th. They issued a “buy” rating and a $22.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $22.80.
Precision BioSciences stock traded down $0.19 during trading on Friday, hitting $7.22. The stock had a trading volume of 178,055 shares, compared to its average volume of 209,536. Precision BioSciences has a 1 year low of $7.11 and a 1 year high of $19.00. The company’s 50 day moving average price is $8.57.
Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.08. The firm had revenue of $5.39 million during the quarter, compared to analysts’ expectations of $8.18 million. Equities analysts anticipate that Precision BioSciences will post -1.71 earnings per share for the current year.
About Precision BioSciences
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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