Precision BioSciences, Inc. (NASDAQ:DTIL) Short Interest Update

Precision BioSciences, Inc. (NASDAQ:DTIL) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 1,323,402 shares, a growth of 19.3% from the December 31st total of 1,109,761 shares. Approximately 10.4% of the company’s shares are short sold. Based on an average trading volume of 253,385 shares, the days-to-cover ratio is presently 5.2 days. Based on an average trading volume of 253,385 shares, the days-to-cover ratio is presently 5.2 days. Approximately 10.4% of the company’s shares are short sold.

Precision BioSciences Stock Down 2.5%

Shares of NASDAQ:DTIL traded down $0.10 during midday trading on Tuesday, hitting $3.88. 220,456 shares of the company’s stock were exchanged, compared to its average volume of 203,951. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.35. Precision BioSciences has a 12 month low of $3.72 and a 12 month high of $8.82. The stock has a 50 day moving average price of $4.41 and a 200-day moving average price of $5.09.

Precision BioSciences (NASDAQ:DTIL) last released its quarterly earnings results on Monday, November 3rd. The company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.53). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $5.40 million. Precision BioSciences had a negative net margin of 11,977.36% and a negative return on equity of 233.77%. During the same quarter last year, the firm posted ($2.25) EPS. Analysts anticipate that Precision BioSciences will post -1.23 EPS for the current year.

Insider Activity at Precision BioSciences

In related news, CFO John Alexander Kelly sold 15,213 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $4.03, for a total transaction of $61,308.39. Following the transaction, the chief financial officer directly owned 106,448 shares of the company’s stock, valued at $428,985.44. This represents a 12.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Amoroso sold 34,799 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $4.17, for a total transaction of $145,111.83. Following the completion of the sale, the chief executive officer owned 196,154 shares of the company’s stock, valued at $817,962.18. The trade was a 15.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 7,081 shares of company stock worth $33,714 and have sold 60,212 shares worth $247,526. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Precision BioSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Precision BioSciences by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock worth $326,000 after acquiring an additional 4,025 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Precision BioSciences during the second quarter valued at about $260,000. Corient Private Wealth LLC purchased a new position in Precision BioSciences during the second quarter worth about $425,000. Vanguard Personalized Indexing Management LLC bought a new stake in Precision BioSciences in the 3rd quarter worth about $72,000. Finally, Vanguard Group Inc. increased its stake in Precision BioSciences by 21.5% in the 3rd quarter. Vanguard Group Inc. now owns 492,596 shares of the company’s stock valued at $2,719,000 after buying an additional 87,242 shares during the last quarter. 37.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Precision BioSciences in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

About Precision BioSciences

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.