Precision BioSciences, Inc. $DTIL Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of Precision BioSciences, Inc. (NASDAQ:DTIL) by 31.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 223,177 shares of the company’s stock after selling 103,300 shares during the period. Renaissance Technologies LLC owned about 0.87% of Precision BioSciences worth $1,227,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Precision BioSciences by 5.5% in the second quarter. Geode Capital Management LLC now owns 77,712 shares of the company’s stock worth $326,000 after acquiring an additional 4,025 shares during the last quarter. Miller Financial Services LLC increased its position in shares of Precision BioSciences by 50.0% in the 4th quarter. Miller Financial Services LLC now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares during the last quarter. Lynx1 Capital Management LP increased its position in shares of Precision BioSciences by 0.6% in the 3rd quarter. Lynx1 Capital Management LP now owns 1,042,596 shares of the company’s stock valued at $5,755,000 after purchasing an additional 6,545 shares during the last quarter. Quarry LP raised its holdings in shares of Precision BioSciences by 15.1% in the 4th quarter. Quarry LP now owns 68,311 shares of the company’s stock valued at $284,000 after purchasing an additional 8,936 shares in the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Precision BioSciences in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 37.99% of the company’s stock.

Precision BioSciences Price Performance

DTIL stock opened at $7.30 on Friday. The firm has a 50 day moving average of $7.44 and a 200-day moving average of $6.44. The company has a market cap of $201.48 million, a price-to-earnings ratio of -2.61 and a beta of 1.27. Precision BioSciences, Inc. has a 12-month low of $3.53 and a 12-month high of $9.62. The company has a current ratio of 12.82, a quick ratio of 12.82 and a debt-to-equity ratio of 0.50.

Precision BioSciences (NASDAQ:DTIL) last posted its earnings results on Thursday, August 6th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.46). Precision BioSciences had a negative net margin of 96.73% and a negative return on equity of 72.52%. As a group, equities analysts expect that Precision BioSciences, Inc. will post -2.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DTIL shares. Oppenheimer began coverage on Precision BioSciences in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $20.00 price target on the stock. HC Wainwright restated a “buy” rating on shares of Precision BioSciences in a research note on Monday, August 3rd. JonesTrading reaffirmed a “buy” rating and set a $30.00 price objective on shares of Precision BioSciences in a report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision BioSciences in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Precision BioSciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

About Precision BioSciences

Precision BioSciences is a clinical‐stage genome editing company that leverages its proprietary ARCUS platform to develop targeted gene therapies. ARCUS, an engineered nuclease derived from a naturally occurring enzyme, enables precise DNA modifications for both in vivo and ex vivo applications. The company’s pipeline spans genetic diseases—including rare monogenic disorders—and immuno‐oncology, where it is advancing allogeneic cell therapy candidates designed to address hematologic malignancies and solid tumors.

Founded in 2006 as a spin‐out from research at the University of North Carolina, Precision BioSciences is headquartered in Durham, North Carolina, with additional research and manufacturing capabilities located in the Research Triangle Park area.