Short Interest in Precision BioSciences, Inc. (NASDAQ:DTIL) Rises By 11.8%

Precision BioSciences, Inc. (NASDAQ:DTIL) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 239,900 shares, a growth of 11.8% from the October 31st total of 214,600 shares. Currently, 6.5% of the company’s shares are short sold. Based on an average daily trading volume, of 75,900 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Precision BioSciences

An institutional investor recently raised its position in Precision BioSciences stock. Geode Capital Management LLC increased its holdings in shares of Precision BioSciences, Inc. (NASDAQ:DTIL) by 40.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,974 shares of the company’s stock after purchasing an additional 19,088 shares during the period. Geode Capital Management LLC owned approximately 0.86% of Precision BioSciences worth $591,000 at the end of the most recent quarter. Institutional investors and hedge funds own 37.99% of the company’s stock.

Precision BioSciences Stock Up 2.5 %

Shares of NASDAQ:DTIL opened at $7.29 on Monday. The firm has a market cap of $55.92 million, a P/E ratio of 121.50 and a beta of 1.71. Precision BioSciences has a 12-month low of $6.41 and a 12-month high of $19.43. The business has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $9.68. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Precision BioSciences in a research report on Thursday, August 22nd.

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.