Precision BioSciences, Inc. (NASDAQ:DTIL) Sees Significant Growth in Short Interest

Precision BioSciences, Inc. (NASDAQ:DTIL) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 306,700 shares, a growth of 11.7% from the December 15th total of 274,500 shares. Approximately 8.2% of the company’s shares are sold short. Based on an average trading volume of 418,600 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Precision BioSciences

A hedge fund recently raised its stake in Precision BioSciences stock. Geode Capital Management LLC boosted its holdings in Precision BioSciences, Inc. (NASDAQ:DTIL) by 40.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,974 shares of the company’s stock after purchasing an additional 19,088 shares during the period. Geode Capital Management LLC owned about 0.86% of Precision BioSciences worth $591,000 as of its most recent SEC filing. 37.99% of the stock is owned by hedge funds and other institutional investors.

Precision BioSciences Stock Up 5.1 %

Shares of NASDAQ:DTIL traded up $0.24 during trading on Monday, reaching $4.96. 183,493 shares of the stock were exchanged, compared to its average volume of 183,149. The stock has a fifty day moving average of $5.77 and a two-hundred day moving average of $8.10. Precision BioSciences has a 1-year low of $3.61 and a 1-year high of $19.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 9.22 and a quick ratio of 9.22. The firm has a market cap of $38.04 million, a price-to-earnings ratio of 82.68 and a beta of 1.51.

Analysts Set New Price Targets

DTIL has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Precision BioSciences in a report on Friday, January 10th. BMO Capital Markets raised shares of Precision BioSciences from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Friday, January 10th.

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.