Precision BioSciences, Inc. (NASDAQ:DTIL – Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 234,800 shares, a decrease of 8.0% from the August 15th total of 255,200 shares. Based on an average daily volume of 36,400 shares, the short-interest ratio is presently 6.5 days. Approximately 6.3% of the shares of the company are sold short.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Precision BioSciences in a research note on Thursday, August 22nd.
View Our Latest Report on DTIL
Precision BioSciences Stock Down 6.1 %
Precision BioSciences (NASDAQ:DTIL – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $4.23. Precision BioSciences had a net margin of 19.36% and a negative return on equity of 7.64%. The company had revenue of $49.90 million for the quarter, compared to the consensus estimate of $8.50 million. During the same quarter in the prior year, the firm earned ($3.00) earnings per share. On average, sell-side analysts anticipate that Precision BioSciences will post 0.82 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Precision BioSciences stock. Janus Henderson Group PLC bought a new stake in Precision BioSciences, Inc. (NASDAQ:DTIL – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 Securities & Exchange Commission. Institutional investors and hedge funds own 37.99% of the company’s stock.
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.
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