Precision BioSciences (NASDAQ:DTIL) Shares Gap Down on Insider Selling

Precision BioSciences, Inc. (NASDAQ:DTIL) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $9.27, but opened at $9.06. Precision BioSciences shares last traded at $8.83, with a volume of 869 shares traded.

Specifically, CEO Matthew R. Kane sold 9,741 shares of Precision BioSciences stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $8.67, for a total transaction of $84,454.47. Following the transaction, the chief executive officer now directly owns 1,974,537 shares of the company’s stock, valued at approximately $17,119,235.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew R. Kane sold 9,746 shares of Precision BioSciences stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $8.25, for a total value of $80,404.50. Following the transaction, the chief executive officer now directly owns 1,999,732 shares in the company, valued at $16,497,789. The disclosure for this sale can be found here. Insiders have sold a total of 87,355 shares of company stock worth $836,061 over the last ninety days. Company insiders own 14.30% of the company’s stock.

Several research analysts have commented on the company. Jonestrading reaffirmed a “buy” rating and set a $27.00 target price on shares of Precision BioSciences in a report on Thursday, March 18th. JPMorgan Chase & Co. boosted their price objective on Precision BioSciences from $10.00 to $14.00 in a research note on Friday, January 29th. Finally, Zacks Investment Research raised Precision BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, March 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Precision BioSciences presently has a consensus rating of “Buy” and a consensus target price of $17.96.

The company has a market capitalization of $542.85 million, a price-to-earnings ratio of -4.73 and a beta of 2.08. The business has a 50 day moving average price of $9.22 and a 200-day moving average price of $10.13.

Precision BioSciences (NASDAQ:DTIL) last issued its earnings results on Wednesday, May 12th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.17. Precision BioSciences had a negative return on equity of 105.74% and a negative net margin of 484.81%. On average, research analysts anticipate that Precision BioSciences, Inc. will post -2.21 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Ghost Tree Capital LLC bought a new stake in Precision BioSciences in the 1st quarter valued at about $2,070,000. Tekla Capital Management LLC bought a new stake in Precision BioSciences in the 1st quarter valued at about $652,000. TD Asset Management Inc. bought a new stake in Precision BioSciences in the 1st quarter valued at about $528,000. UBS Asset Management Americas Inc. increased its position in Precision BioSciences by 36.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 46,200 shares of the company’s stock valued at $478,000 after buying an additional 12,400 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Precision BioSciences during the 1st quarter worth approximately $103,000. 48.57% of the stock is owned by institutional investors and hedge funds.

Precision BioSciences Company Profile (NASDAQ:DTIL)

Precision BioSciences, Inc, a genome editing company, develops therapeutic products in the United States. The company operates through two segments, Therapeutic and Food. It offers ARCUS, a genome editing platform to cure genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.

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