Precision BioSciences (NASDAQ:DTIL) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Precision BioSciences (NASDAQ:DTIL) in a research note released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $60.00 price target on the stock.

Separately, BMO Capital Markets raised Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Friday, January 10th.

Precision BioSciences Trading Up 9.7 %

DTIL opened at $5.65 on Wednesday. The company’s 50 day moving average is $4.88 and its 200-day moving average is $7.34. The company has a market cap of $43.34 million, a P/E ratio of 94.18 and a beta of 1.51. Precision BioSciences has a 1-year low of $3.61 and a 1-year high of $19.43. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling at Precision BioSciences

In other Precision BioSciences news, insider J. Jefferson Smith sold 10,287 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $4.79, for a total transaction of $49,274.73. Following the transaction, the insider now directly owns 87,440 shares in the company, valued at approximately $418,837.60. This represents a 10.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Amoroso sold 36,838 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $4.67, for a total transaction of $172,033.46. Following the completion of the sale, the chief executive officer now owns 107,087 shares of the company’s stock, valued at $500,096.29. The trade was a 25.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 8,734 shares of company stock valued at $39,946. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Precision BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in Precision BioSciences during the 4th quarter valued at $179,000. Tang Capital Management LLC increased its holdings in Precision BioSciences by 8.0% in the 4th quarter. Tang Capital Management LLC now owns 673,332 shares of the company’s stock worth $2,565,000 after acquiring an additional 50,000 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Precision BioSciences by 22.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,534 shares of the company’s stock worth $59,000 after purchasing an additional 2,805 shares during the period. Citadel Advisors LLC raised its position in shares of Precision BioSciences by 58.0% in the fourth quarter. Citadel Advisors LLC now owns 153,675 shares of the company’s stock valued at $586,000 after purchasing an additional 56,400 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Precision BioSciences during the fourth quarter worth $146,000. 37.99% of the stock is owned by institutional investors.

Precision BioSciences Company Profile

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.