The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Precision BioSciences Inc. shares valued at $50,676 were purchased by Kelly John Alexander on Jun 22. At $1.50 per share, Kelly John Alexander acquired 33,784 shares. The insider’s holdings grew to 117,701 shares worth approximately $0.2 million following the completion of this transaction.
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Also, JANTZ DEREK sold 18,849 shares, netting a total of over 38,829 in proceeds. Following the sale of shares at $2.06 each, the insider now holds 4,055,174 shares.
Before that, Scimeca Dario had sold 9,833 shares from its account. In a trade valued at $20,256, the General Counsel and Secretary traded Precision BioSciences Inc. shares for $2.06 each. Upon closing the transaction, the insider’s holdings decreased to 9,833 shares, worth approximately $54623.52.
As published in their initiating research note from BMO Capital Markets on June 17, 2022, Precision BioSciences Inc. [DTIL] has been an Outperform and the price target has been revised to $7. This represents a 76.0% premium over Thursday’s closing price. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early June. Earlier on April 03, 2020, Goldman downgraded its rating. Their new recommendation was “a Neutral” for DTIL stock which previously was a “a Buy”.
Analyzing DTIL’s Price Performance
On Thursday, Precision BioSciences Inc. [NASDAQ: DTIL] rose 0.60% to $1.68. The stock’s lowest price that day was $1.59, but it reached a high of $1.70 in the same session. During the last five days, there has been a surge of approximately 10.53%. Over the course of the year, Precision BioSciences Inc. shares have dropped approximately -77.30%. Shares of the company reached a 52-week high of $7.8500 on 01/04/22 and a 52-week low of $1.1100 on 06/16/22. A 50-day SMA is recorded $1.5426, while a 200-day SMA reached $4.5478. Nevertheless, trading volume fell to 1.17 million shares from 1.27 million shares the previous day.
Support And Resistance Levels for Precision BioSciences Inc. (DTIL)
According to the 24-hour chart, there is a support level at 1.6133, which, if violated, would cause prices to drop to 1.5467. In the upper region, resistance lies at 1.7233. The next price resistance is at 1.7667. RSI (Relative Strength Index) is 55.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0533, which suggests the price will decrease in the coming days. Percent R is at 23.94%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Precision BioSciences Inc. subject to short interest?
Stocks of Precision BioSciences Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.87 million shares to 1.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.81 million shares. A decline of -44.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.28 of the overall float, the days-to-cover ratio (short ratio) decline to 0.28.
Which companies own the most shares of Precision BioSciences Inc. (DTIL)?
According to Great Point Partners LLC filings, the company currently owns 5,755,396 shares, which is about 5.85% of the total DTIL shares outstanding. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $6,830,400. BlackRock Fund Advisors acquire a 1.04% interest valued at $5.99 million while The Vanguard Group, Inc. purchased a 364,303 stake. A total of -1,562,921 shares of Precision BioSciences Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 619,409 were bought by Acadian Asset Management LLC. In its current portfolio, Geode Capital Management LLC holds 914,819 shares valued at $1.46 million.
In terms of Precision BioSciences Inc. share price expectations, FactSet research, analysts set an average price target of $9.33 in the next 12 months, up nearly 379.04% from the previous closing price of $1.67. Analysts anticipate Precision BioSciences Inc. stock to reach $20.00 by 2022, with the lowest price target being $2.00. In spite of this, 10 analysts ranked Precision BioSciences Inc. stock as an Overweight at the end of 2022. On March 05, 2020, Stifel assigned a price target of “a Buy” to the stock and initiated coverage with a $21.