Insider Selling: Precision BioSciences, Inc. (NASDAQ:DTIL) CFO Sells 14,827 Shares of Stock

Precision BioSciences, Inc. (NASDAQ:DTIL - Get Free Report) CFO John Alexander Kelly sold 14,827 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $4.26, for a total transaction of $63,163.02. Following the completion of the transaction, the chief financial officer directly owned 73,485 shares in the company, valued at approximately $313,046.10. This represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Precision BioSciences Stock Up 4.6%

DTIL traded up $0.21 during trading hours on Wednesday, reaching $4.73. 162,110 shares of the stock traded hands, compared to its average volume of 225,598. The firm's fifty day simple moving average is $4.85 and its two-hundred day simple moving average is $4.93. The company has a market cap of $52.46 million, a price-to-earnings ratio of -2.35 and a beta of 1.43. Precision BioSciences, Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $11.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.62 and a quick ratio of 6.62.

Precision BioSciences (NASDAQ:DTIL - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($2.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($1.78). The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $5.00 million. Precision BioSciences had a negative net margin of 42.99% and a negative return on equity of 69.26%. As a group, analysts forecast that Precision BioSciences, Inc. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and set a $60.00 price target on shares of Precision BioSciences in a report on Wednesday, May 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DTIL. Miller Financial Services LLC acquired a new position in Precision BioSciences during the 1st quarter worth $48,000. Commonwealth Equity Services LLC acquired a new position in Precision BioSciences during the 4th quarter worth $48,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Precision BioSciences by 22.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,534 shares of the company's stock worth $59,000 after acquiring an additional 2,805 shares in the last quarter. Samalin Investment Counsel LLC acquired a new position in Precision BioSciences during the 4th quarter worth $59,000. Finally, XTX Topco Ltd acquired a new position in Precision BioSciences during the 4th quarter worth $67,000. 37.99% of the stock is owned by institutional investors and hedge funds.

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.