Precision BioSciences, Inc. (NASDAQ:DTIL) Short Interest Up 11.8% in November

Precision BioSciences, Inc. (NASDAQ:DTIL) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 239,900 shares, a growth of 11.8% from the October 31st total of 214,600 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily volume of 75,900 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Ratings Changes

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

Precision BioSciences Stock Performance

DTIL opened at $7.29 on Monday. Precision BioSciences has a 1-year low of $6.41 and a 1-year high of $19.43. The company has a market cap of $55.92 million, a price-to-earnings ratio of 121.50 and a beta of 1.71. The company’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $9.68. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Precision BioSciences

An institutional investor recently raised its position in Precision BioSciences stock. Geode Capital Management LLC raised its stake in Precision BioSciences, Inc. (NASDAQ:DTIL) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,974 shares of the company’s stock after purchasing an additional 19,088 shares during the quarter. Geode Capital Management LLC owned 0.86% of Precision BioSciences worth $591,000 as of its most recent filing with the Securities & Exchange Commission. 37.99% of the stock is currently owned by institutional investors and hedge funds.

About Precision BioSciences

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.