Short Interest in Precision BioSciences, Inc. (NASDAQ:DTIL) Decreases By 7.1%

Precision BioSciences, Inc. (NASDAQ:DTIL) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 217,600 shares, a decline of 7.1% from the September 15th total of 234,300 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily volume of 41,500 shares, the days-to-cover ratio is presently 5.2 days.

Precision BioSciences Price Performance

Shares of NASDAQ DTIL traded down $0.05 during mid-day trading on Thursday, hitting $8.96. 54,681 shares of the company’s stock traded hands, compared to its average volume of 75,908. The company’s 50-day moving average is $9.50 and its two-hundred day moving average is $10.56. The company has a market capitalization of $62.06 million, a P/E ratio of -1.21 and a beta of 1.70. Precision BioSciences has a 1 year low of $8.25 and a 1 year high of $19.43.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Thursday, August 1st. The company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $4.23. The firm had revenue of $49.90 million for the quarter, compared to analysts’ expectations of $8.50 million. Precision BioSciences had a net margin of 19.36% and a negative return on equity of 7.64%. During the same period in the prior year, the company earned ($3.00) EPS. Equities analysts anticipate that Precision BioSciences will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Precision BioSciences

An institutional investor recently bought a new position in Precision BioSciences stock. Janus Henderson Group PLC acquired a new position in Precision BioSciences, Inc. (NASDAQ:DTIL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 573,052 shares of the company’s stock, valued at approximately $7,739,000. Janus Henderson Group PLC owned 8.29% of Precision BioSciences at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.99% of the company’s stock.

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.