Insider Selling: Precision BioSciences, Inc. (NASDAQ:DTIL) CEO Sells 1,526 Shares of Stock

Precision BioSciences, Inc. (NASDAQ:DTIL) CEO Michael Amoroso sold 1,526 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $10.32, for a total transaction of $15,748.32. Following the completion of the sale, the chief executive officer now directly owns 13,772 shares of the company’s stock, valued at approximately $142,127.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Precision BioSciences Stock Down 3.0 %

Shares of Precision BioSciences stock traded down $0.32 on Friday, hitting $10.52. 73,814 shares of the company’s stock traded hands, compared to its average volume of 120,034. The stock has a market cap of $72.80 million, a P/E ratio of -0.65 and a beta of 1.62. The firm’s 50-day moving average is $12.55 and its 200 day moving average is $11.79. Precision BioSciences, Inc. has a 52-week low of $8.25 and a 52-week high of $27.02.

Precision BioSciences (NASDAQ:DTIL) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($3.35) EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($6.35). The business had revenue of $7.04 million during the quarter, compared to analyst estimates of $28.50 million. Precision BioSciences had a negative return on equity of 204.66% and a negative net margin of 125.84%. Equities research analysts forecast that Precision BioSciences, Inc. will post -3.93 EPS for the current year.

Hedge Funds Weigh In On Precision BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Curi Wealth Management LLC boosted its holdings in shares of Precision BioSciences by 42.0% during the third quarter. Curi Wealth Management LLC now owns 339,801 shares of the company’s stock valued at $116,000 after acquiring an additional 100,530 shares during the period. Tejara Capital Ltd raised its stake in shares of Precision BioSciences by 100.7% during the third quarter. Tejara Capital Ltd now owns 398,614 shares of the company’s stock valued at $136,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Precision BioSciences by 8.3% during the third quarter. Acadian Asset Management LLC now owns 3,148,243 shares of the company’s stock valued at $1,073,000 after purchasing an additional 242,425 shares in the last quarter. Institutional investors and hedge funds own 37.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DTIL. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Precision BioSciences in a research report on Wednesday, April 17th. Guggenheim initiated coverage on shares of Precision BioSciences in a research report on Tuesday. They issued a “buy” rating and a $19.00 price objective for the company.

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.