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Smith J. Jefferson, Chief Research Officer at Precision Biosciences Inc. (NASDAQ:DTIL), reported the sale of company stock valued at $756, according to a recent SEC filing. The transaction, executed on March 4, involved the sale of 154 shares at a price of $4.91 each, below the current trading price of $5.24. This sale was part of a pre-arranged Rule 10b5-1 plan, specifically to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The stock has experienced significant volatility, declining 47% over the past six months.
The filing also detailed the vesting of RSUs on March 3, which resulted in the acquisition of 519 shares of common stock. These RSUs were granted on March 3, 2022, and vested fully on March 3, 2025, as part of a three-year plan contingent on continued service with the company. Following these transactions, Smith holds 87,805 shares directly, with an additional 7,931 shares held indirectly through a charitable remainder unitrust. According to InvestingPro analysis, DTIL appears undervalued at its current $40.16M market cap, with the company’s next earnings report scheduled for March 12. Subscribers can access 8 additional ProTips and comprehensive financial metrics.
In other recent news, Precision BioSciences Inc . announced promising preliminary safety and antiviral activity data from their Phase 1 trial of a gene editing therapy for chronic hepatitis B. This announcement has led H.C. Wainwright to maintain a Buy rating on the company, with a price target of $60. Additionally, Precision BioSciences shared positive results from a trial conducted by its partner iECURE, which demonstrated a complete clinical response in an infant treated for Ornithine Transcarbamylase deficiency using the ARCUS gene editing platform. This has prompted BMO Capital to upgrade the company’s stock from Market Perform to Outperform, setting a price target of $34, citing a favorable risk/reward profile.
In corporate governance news, Precision BioSciences announced the retirement of Dr. Sam Wadsworth from its Board of Directors, effective January 23, 2025. This change was not due to any disagreements with the company, and no successor has been named yet. Furthermore, the company reported an estimated $108.5 million in cash as of December 31, 2024, with additional inflows in January 2025, projecting a cash runway into the second half of 2026. This financial stability supports the advancement of its programs through upcoming clinical trials. Precision BioSciences also disclosed a transaction with TG Therapeutics (NASDAQ:TGTX), receiving $2.5 million and issuing shares as part of a License Agreement.
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