Precision BioSciences (NASDAQ:DTIL) Rating Reiterated by HC Wainwright

Precision BioSciences (NASDAQ:DTIL)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $60.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 459.70% from the company’s current price.

Precision BioSciences Stock Down 6.9 %

NASDAQ:DTIL opened at $10.72 on Wednesday. The company’s 50 day moving average price is $13.01 and its 200-day moving average price is $11.75. Precision BioSciences has a 52 week low of $8.25 and a 52 week high of $28.44. The stock has a market cap of $74.18 million, a price-to-earnings ratio of -0.67 and a beta of 1.53.

Insider Buying and Selling

In related news, CEO Michael Amoroso sold 4,579 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $10.80, for a total value of $49,453.20. Following the sale, the chief executive officer now owns 11,881 shares in the company, valued at $128,314.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 6,005 shares of company stock worth $64,854. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Precision BioSciences by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,754,776 shares of the company’s stock worth $1,735,000 after acquiring an additional 61,700 shares during the period. Goldman Sachs Group Inc. raised its position in Precision BioSciences by 4.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 493,702 shares of the company’s stock worth $180,000 after acquiring an additional 19,636 shares during the period. Blue Owl Capital Holdings LP bought a new position in Precision BioSciences in the fourth quarter worth approximately $221,000. Barclays PLC raised its position in Precision BioSciences by 10.5% in the fourth quarter. Barclays PLC now owns 214,524 shares of the company’s stock worth $78,000 after acquiring an additional 20,316 shares during the period. Finally, Corient Private Wealth LLC raised its position in Precision BioSciences by 229.0% in the fourth quarter. Corient Private Wealth LLC now owns 227,521 shares of the company’s stock worth $83,000 after acquiring an additional 158,365 shares during the period. 37.99% of the stock is currently owned by institutional investors.

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.