Precision BioSciences Inc’s (NASDAQ:DTIL) Lock-Up Period Set To End Tomorrow

Precision BioSciences’ (NASDAQ:DTIL) lock-up period will end on Tuesday, September 24th. Precision BioSciences had issued 7,900,000 shares in its public offering on March 28th. The total size of the offering was $126,400,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

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

NASDAQ:DTIL opened at $9.66 on Monday. The stock’s 50-day simple moving average is $9.34. Precision BioSciences has a one year low of $7.80 and a one year high of $19.00.

Precision BioSciences (NASDAQ:DTIL) last posted its earnings results on Wednesday, August 14th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.08. The business had revenue of $5.39 million for the quarter, compared to the consensus estimate of $8.18 million. On average, research analysts anticipate that Precision BioSciences will post -1.71 EPS for the current year.

Several large investors have recently bought and sold shares of the company. FMR LLC bought a new stake in shares of Precision BioSciences during the first quarter worth about $67,102,000. Cowen Inc. boosted its holdings in Precision BioSciences by 7.5% during the second quarter. Cowen Inc. now owns 1,083,926 shares of the company’s stock worth $14,362,000 after purchasing an additional 75,361 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Precision BioSciences by 66.7% during the second quarter. Wells Fargo & Company MN now owns 883,037 shares of the company’s stock worth $11,701,000 after purchasing an additional 353,208 shares during the last quarter. BlackRock Inc. boosted its holdings in Precision BioSciences by 511.8% during the second quarter. BlackRock Inc. now owns 635,076 shares of the company’s stock worth $8,414,000 after purchasing an additional 531,269 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Precision BioSciences by 469.3% during the second quarter. Vanguard Group Inc. now owns 427,010 shares of the company’s stock worth $5,657,000 after purchasing an additional 352,010 shares during the last quarter. 43.66% of the stock is owned by institutional investors.

About Precision BioSciences

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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