In a recent transaction, John Alexander Kelly, the company’s chief financial officer Precision BioSciences Inc . (NASDAQ:), bought 2,113 shares of the company’s stock. The shares were acquired at a price of $4.75 each, for a total transaction value of $10,036. After this purchase, Kelly’s total ownership in the company increased to 40,186 shares. The transaction was completed on December 27, 2024, according to SEC filings. This insider purchase comes as the stock is trading near a 52-week low of $4.13, with InvestingPro data showing that the stock is currently in oversold territory. The company’s shares have fallen by more than 56% in the last six months, and analysis from InvestingPro suggests that the stock may be undervalued at current levels. Explore comprehensive insider trading patterns and 12 additional real-time insights InvestingPro.
In other recent news, Precision BioSciences has made significant advances in gene editing technology. The company received approval for its clinical trial application in Hong Kong for PBGENE-HBV, a potential treatment for chronic hepatitis B. This approval allows Precision BioSciences to expand its ELIMINATE-B Phase I trial to Hong Kong, targeting persistent genetic material of the virus in cells liver.
BMO Capital maintained its market perform rating for the company, with a focus on the clinical development of PBGENE-HBV. Precision BioSciences also received a $13 million convertible note payment from Imugene Limited, strengthening its financial resources. The company’s collaborator, iECURE, received FDA Fast Track designation for its gene therapy candidate ECUR-506.
Precision BioSciences demonstrated the high-throughput gene editing capabilities of its ARCUS platform at the European Society for Gene and Cell Therapy Congress. The ARCUS platform can perform sophisticated gene editing, such as insertions and substitutions, with remarkable efficiency. The company has also initiated a Phase 1 clinical trial for PBGENE-HBV.
In addition, Precision BioSciences reorganized its clinical leadership team, appointing Dr. Murray Abramson as senior vice president, head of clinical development, and John Fry as strategic clinical advisor. These recent achievements are part of the company’s ongoing efforts to advance gene editing therapies.
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