Acadian Asset Management LLC recently announced the acquisition of new stake in Precision Biosciences Inc (NASDAQ:DTIL). The institutional investor has increased its shareholding in the Healthcare company by 8.34% to 3.15 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 2.60% valued currently at $1.12 million. In addition, Citadel Advisors LLC raised its holdings by 0.49 million to 3.09 million shares. And Jacobs Levy Equity Management, In has lifted its position by 82.47% or 0.64 million shares – to 1.42 million shares.
With over 35.18 million Precision Biosciences Inc (DTIL) shares trading Tuesday and a closing price of $0.44 on the day, the dollar volume was approximately $15.48 million. The shares have shown a negative half year performance of -27.04% and its price on 01/09/24 gained nearly 10.10%. Currently, there are 110.96M common shares owned by the public and among those 96.69M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for DTIL have a consensus price objective of $2.63. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $2.00. The average price target is 83.21% above its recent price level and an upside to the estimated low will see the stock gain 78.0% over that period. But an upside of 85.33% will see the stock hit the forecast high price target while median target price for the stock is $2.75.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 1,050,221 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 230,824 shares.
The top 3 mutual fund holders in Precision Biosciences Inc are American Funds Small Cap World Fu, Vanguard Total Stock Market ETF, and JPMorgan Funds – Thematics – Gene. American Funds Small Cap World Fu owns 6.72 million shares of the company’s stock, all valued at over $2.38 million. JPMorgan Funds – Thematics – Gene bought 0.67 million shares to bring its total holdings to over 1.56 million shares at a value of $0.55 million. JPMorgan Funds – Thematics – Gene now owns shares totaling to 1.29% of the shares outstanding.
Shares of Precision Biosciences Inc (NASDAQ: DTIL) opened at $0.4378, up $0.04 from a prior closing price of $0.40. However, the script later moved the day high at 0.5001, up 10.10%. The company’s stock has a 5-day price change of 18.43% and 40.45% over the past three months. DTIL shares are trading 20.05% year to date (YTD), with the 12-month market performance down to -67.78% lower. It has a 12-month low price of $0.28 and touched a high of $1.45 over the same period. DTIL has an average intraday trading volume of 948.07K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.94%, 15.26%, and -19.78% respectively.
Institutional ownership of Precision Biosciences Inc (NASDAQ: DTIL) shares accounts for 27.16% of the company’s 110.96M shares outstanding. Mutual fund holders own 14.95%, while other institutional holders and individual stakeholders account for 8.16% and 12.44% respectively.
It has a market capitalization of $53.43M and a beta (3y monthly) value of 1.39. The earnings-per-share (ttm) stands at -$0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.16% over the week and 6.86% over the month.
Analysts forecast that Precision Biosciences Inc (DTIL) will achieve an EPS of $Instil Bio, Inc. for the current quarter, $7.70 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Drilling Tools International Co while analysts give the company a high EPS estimate of $Diamond Hill Investment Group, . Comparatively, EPS for the current quarter was $DETROIT LEGAL NEWS CO a year ago. Earnings per share for the fiscal year are expected to increase by 60.47%, and 3.02% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Precision Biosciences Inc (DTIL) as a “Strong Buy” at a consensus score of 1.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DTIL, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on June 17, 2022, with the firm’s price target at $7.
