Precision BioSciences (NASDAQ:DTIL) Sees Strong Trading Volume

Precision BioSciences Inc (NASDAQ:DTIL) shares saw unusually-strong trading volume on Wednesday . Approximately 818,900 shares were traded during mid-day trading, an increase of 385% from the previous session’s volume of 168,986 shares.The stock last traded at $9.80 and had previously closed at $8.03.

Several analysts have recently issued reports on DTIL shares. HC Wainwright started coverage on shares of Precision BioSciences in a research report on Tuesday, July 16th. They issued a “buy” rating and a $21.00 target price on the stock. BTIG Research started coverage on shares of Precision BioSciences in a research report on Friday, August 9th. They issued a “buy” rating and a $22.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $22.80.

The stock has a 50-day moving average price of $9.84.

Precision BioSciences (NASDAQ:DTIL) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.08. The business had revenue of $5.39 million for the quarter, compared to analyst estimates of $8.18 million. Equities analysts expect that Precision BioSciences Inc will post -1.71 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. FMR LLC acquired a new position in Precision BioSciences in the 1st quarter valued at about $67,102,000. Cowen Inc. raised its stake in shares of Precision BioSciences by 7.5% in the 2nd quarter. Cowen Inc. now owns 1,083,926 shares of the company’s stock valued at $14,362,000 after acquiring an additional 75,361 shares during the period. Wells Fargo & Company MN raised its stake in shares of Precision BioSciences by 66.7% in the 2nd quarter. Wells Fargo & Company MN now owns 883,037 shares of the company’s stock valued at $11,701,000 after acquiring an additional 353,208 shares during the period. BlackRock Inc. increased its stake in Precision BioSciences by 511.8% during the 2nd quarter. BlackRock Inc. now owns 635,076 shares of the company’s stock worth $8,414,000 after buying an additional 531,269 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in Precision BioSciences during the 1st quarter worth approximately $9,295,000. Institutional investors own 43.66% of the company’s stock.

Precision BioSciences Company Profile (NASDAQ:DTIL)

Precision BioSciences, Inc operates as a genome editing company and develops therapeutic products in the United States. It operates through two segments, Therapeutic and Food. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.

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