Short Interest in Precision BioSciences, Inc. (NASDAQ:DTIL) Decreases By 8.0%

Precision BioSciences, Inc. (NASDAQ:DTIL) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 234,800 shares, a decline of 8.0% from the August 15th total of 255,200 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 36,400 shares, the short-interest ratio is currently 6.5 days.

Wall Street Analysts Forecast Growth

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

Precision BioSciences Stock Down 6.1 %

Precision BioSciences stock traded down $0.62 during trading hours on Wednesday, hitting $9.60. 80,867 shares of the company traded hands, compared to its average volume of 77,040. Precision BioSciences has a 1-year low of $8.25 and a 1-year high of $19.43. The firm has a market cap of $66.49 million, a P/E ratio of -1.29 and a beta of 1.70. The firm’s 50-day simple moving average is $9.74 and its two-hundred day simple moving average is $10.99.

Precision BioSciences (NASDAQ:DTIL) last announced its earnings results on Thursday, August 1st. The company reported $3.46 EPS for the quarter, topping 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 negative return on equity of 7.64% and a net margin of 19.36%. During the same quarter in the previous year, the company earned ($3.00) earnings per share. On average, equities research analysts predict that Precision BioSciences will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Precision BioSciences stock. Janus Henderson Group PLC purchased a new stake in Precision BioSciences, Inc. (NASDAQ:DTIL) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 573,052 shares of the company’s stock, valued at approximately $7,739,000. Janus Henderson Group PLC owned about 8.29% of Precision BioSciences at the end of the most recent quarter. Institutional investors own 37.99% of the company’s stock.

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.