HC Wainwright Reaffirms Buy Rating for Precision BioSciences (NASDAQ:DTIL)

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

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

Precision BioSciences Price Performance

DTIL opened at $5.45 on Wednesday. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.34. The company has a market cap of $41.81 million, a price-to-earnings ratio of 90.85 and a beta of 1.59. The stock has a fifty day simple moving average of $5.14 and a two-hundred day simple moving average of $6.73. Precision BioSciences has a 12-month low of $3.61 and a 12-month high of $15.97.

Insider Buying and Selling

In other Precision BioSciences news, CEO Michael Amoroso sold 36,838 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $4.67, for a total value of $172,033.46. Following the sale, the chief executive officer now directly owns 107,087 shares of the company’s stock, valued at approximately $500,096.29. The trade was a 25.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider J. Jefferson Smith sold 10,287 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.79, for a total value of $49,274.73. Following the transaction, the insider now owns 87,440 shares of the company’s stock, valued at $418,837.60. The trade was a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 8,734 shares of company stock worth $39,946 and have sold 47,279 shares worth $222,064. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of Precision BioSciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lynx1 Capital Management LP bought a new position in shares of Precision BioSciences in the fourth quarter worth approximately $2,919,000. Janus Henderson Group PLC lifted its position in Precision BioSciences by 10.9% in the 3rd quarter. Janus Henderson Group PLC now owns 702,069 shares of the company’s stock valued at $6,322,000 after acquiring an additional 68,943 shares in the last quarter. Citadel Advisors LLC boosted its stake in Precision BioSciences by 58.0% during the 4th 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 last quarter. Moloney Securities Asset Management LLC increased its holdings in shares of Precision BioSciences by 177.0% in the 4th quarter. Moloney Securities Asset Management LLC now owns 87,799 shares of the company’s stock worth $335,000 after purchasing an additional 56,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Precision BioSciences in the 4th quarter worth $211,000. 37.99% of the stock is currently owned by 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.