Precision BioSciences, Inc. (NASDAQ:DTIL) Short Interest Down 7.1% in July

Precision BioSciences, Inc. (NASDAQ:DTIL) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 275,800 shares, a decrease of 7.1% from the June 30th total of 296,900 shares. Approximately 7.6% of the company’s shares are short sold. Based on an average daily volume of 38,900 shares, the days-to-cover ratio is currently 7.1 days.

Precision BioSciences Stock Performance

Precision BioSciences stock traded up $0.17 during midday trading on Thursday, reaching $9.70. 34,518 shares of the company’s stock were exchanged, compared to its average volume of 85,465. Precision BioSciences has a 52 week low of $8.25 and a 52 week high of $19.43. The firm has a market cap of $67.22 million, a price-to-earnings ratio of -1.39 and a beta of 1.74. The stock’s 50-day simple moving average is $10.70 and its 200 day simple moving average is $11.65.

Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.10. The business had revenue of $17.58 million during the quarter, compared to analysts’ expectations of $9.35 million. Precision BioSciences had a negative return on equity of 131.69% and a negative net margin of 48.10%. Research analysts forecast that Precision BioSciences will post -2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DTIL has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Precision BioSciences in a report on Thursday, May 30th. Guggenheim initiated coverage on Precision BioSciences in a report on Tuesday, April 30th. They set a “buy” rating and a $19.00 target price for the company.

Institutional Investors Weigh In On Precision BioSciences

A hedge fund recently bought a new stake in Precision BioSciences stock. Janus Henderson Group PLC acquired a new position in shares of Precision BioSciences, Inc. (NASDAQ:DTIL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 37.99% of the company’s stock.

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.