Lumen Technologies hires Sean Alexander as head of Connected Ecosystems
In a recent transaction, Germano Geno J, a director at Precision BioSciences Inc . (NASDAQ:DTIL), acquired 3,250 shares of the company’s common stock. The purchase comes as InvestingPro analysis shows the stock trading below its Fair Value, despite the company maintaining a strong balance sheet with more cash than debt. The shares were purchased at a price of $5.30 each, amounting to a total investment of $17,225. Following this transaction, Germano’s total holdings in the company increased to 11,057 shares. This acquisition reflects Germano’s continued involvement and investment in the company, which is based in Durham, North Carolina. While the stock has faced significant pressure, declining nearly 50% over the past six months, analysts expect net income growth this year. For deeper insights into insider trading patterns and 8 additional key metrics, consider an InvestingPro subscription.
In other recent news, Precision BioSciences has reported several significant developments. The company announced promising preclinical data for its PBGENE-DMD gene editing therapy aimed at treating Duchenne muscular dystrophy. Analysts at H.C. Wainwright maintained their Buy rating and $60 price target, expressing confidence in the program’s potential to advance into clinical trials. Additionally, Precision BioSciences received FDA clearance to expand its Phase 1 ELIMINATE-B study for PBGENE-HBV, a gene editing therapy for chronic hepatitis B, to the United States. Initial data from this trial showed substantial antiviral activity and a favorable safety profile, further bolstering confidence in the company’s ARCUS platform.
Moreover, Precision BioSciences announced the retirement of Dr. Sam Wadsworth from its Board of Directors, with no immediate impact on its strategic direction noted. In collaboration with its partner iECURE, the company reported a complete clinical response in the first infant dosed in a Phase 1/2 trial for Ornithine Transcarbamylase deficiency using the ARCUS platform. This success led BMO Capital to upgrade Precision BioSciences from Market Perform to Outperform, setting a price target of $34. These developments reflect the company’s ongoing progress in gene editing therapies and its strategic focus on addressing serious genetic diseases.
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