Precision BioSciences, Inc. (NASDAQ:DTIL) Sees Large Decline in Short Interest

Precision BioSciences, Inc. (NASDAQ:DTIL) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 217,600 shares, a drop of 7.1% from the September 15th total of 234,300 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily volume of 41,500 shares, the days-to-cover ratio is currently 5.2 days.

Institutional Investors Weigh In On Precision BioSciences

A hedge fund recently bought a new stake in Precision BioSciences stock. Janus Henderson Group PLC purchased a new stake in shares of Precision BioSciences, Inc. (NASDAQ:DTIL) during the 1st quarter, according to the company in its most recent 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 8.29% of Precision BioSciences as of its most recent filing with the SEC. Institutional investors own 37.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Precision BioSciences Stock Performance

Shares of NASDAQ DTIL opened at $8.96 on Friday. The firm’s fifty day moving average is $9.51 and its two-hundred day moving average is $10.55. Precision BioSciences has a 52-week low of $8.25 and a 52-week high of $19.43. The company has a market cap of $62.06 million, a P/E ratio of -1.20 and a beta of 1.70.

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

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.