Precision BioSciences’ (DTIL) Buy Rating Reaffirmed at HC Wainwright

Precision BioSciences (NASDAQ:DTIL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $60.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 416.80% from the stock’s previous close.

Precision BioSciences Trading Down 9.8 %

Precision BioSciences stock traded down $1.26 during mid-day trading on Wednesday, hitting $11.61. The company had a trading volume of 188,393 shares, compared to its average volume of 130,107. The company has a market capitalization of $80.34 million, a price-to-earnings ratio of -0.72 and a beta of 1.53. The company’s fifty day moving average is $13.02 and its 200-day moving average is $11.75. Precision BioSciences has a 12-month low of $8.25 and a 12-month high of $28.44.

Insider Activity at Precision BioSciences

In other Precision BioSciences news, CEO Michael Amoroso sold 4,579 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $10.80, for a total value of $49,453.20. Following the completion of the transaction, the chief executive officer now owns 11,881 shares in the company, valued at $128,314.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 6,005 shares of company stock worth $64,854. 5.10% of the stock is owned by company insiders.

Institutional Trading of Precision BioSciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in Precision BioSciences by 139.6% during the third quarter. Renaissance Technologies LLC now owns 2,172,666 shares of the company’s stock worth $2,824,000 after acquiring an additional 1,265,877 shares during the period. Millennium Management LLC raised its position in shares of Precision BioSciences by 269.9% during the 2nd quarter. Millennium Management LLC now owns 1,534,226 shares of the company’s stock worth $2,455,000 after purchasing an additional 1,119,435 shares during the last quarter. Stifel Financial Corp raised its position in shares of Precision BioSciences by 115.5% during the 2nd quarter. Stifel Financial Corp now owns 1,958,872 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,049,771 shares during the last quarter. Citadel Advisors LLC lifted its stake in Precision BioSciences by 259.4% in the 2nd quarter. Citadel Advisors LLC now owns 1,421,485 shares of the company’s stock valued at $2,274,000 after buying an additional 1,025,936 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Precision BioSciences by 82.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,424,535 shares of the company’s stock valued at $486,000 after acquiring an additional 643,839 shares during the last quarter. 37.99% of the stock is currently owned by hedge funds and other institutional investors.

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.