In a recent transaction reported to the Securities and Exchange Commission, Kevin Buehler, a director at Precision BioSciences Inc . (NASDAQ:DTIL), acquired 4,320 shares of common stock. The timing is notable as the stock has declined over 56% in the past six months and currently trades near its 52-week low of $4.13. The shares were purchased at a weighted average price of $4.88, with the transaction totaling approximately $21,081. Following this acquisition, Buehler now holds 8,712 shares directly. The shares were bought in multiple transactions, with prices ranging from $4.73 to $4.94. According to InvestingPro analysis, the stock appears undervalued at current levels, with 12 additional real-time insights available to subscribers.
In other recent news, Precision BioSciences has made significant strides in gene-editing technology. The company has received approval for its Clinical Trial Application (CTA) in Hong Kong for PBGENE-HBV, a potential cure for chronic hepatitis B, and has initiated a global Phase 1 clinical trial. This significant milestone allows the company to extend its ELIMINATE-B Phase I trial to Hong Kong, targeting the virus's persistent genetic material in liver cells.
Precision BioSciences' ARCUS platform is being leveraged for this therapy, aiming to provide functional cures for patients with chronic hepatitis B infection by eliminating cccDNA and inactivating integrated HBV DNA. The company is on track for a U.S. investigational new drug application in 2025 and plans to share clinical data as it becomes available throughout 2025.
In other developments, Precision BioSciences has reshuffled its clinical leadership team, with Dr. Murray Abramson appointed as Senior Vice President, Head of Clinical Development, and John Fry as Strategic Clinical Advisor. Moreover, the company received a $13 million convertible note payment from Imugene Limited, further bolstering its financial resources.
BMO Capital has maintained its Market Perform rating and $34 target for Precision BioSciences. This follows the company's third-quarter earnings report, which focused on the clinical development of PBGENE-HBV. Finally, Precision BioSciences' collaborator, iECURE, received FDA Fast Track designation for its gene therapy candidate ECUR-506, further advancing the company's gene editing therapies.
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