In a recent transaction, John Alexander Kelly, the Chief Financial Officer of Precision BioSciences Inc . (NASDAQ:), purchased 2,113 shares of the company’s common stock. The shares were acquired at a price of $4.75 each, amounting to a total transaction value of $10,036. Following this purchase, Kelly’s total holdings in the company increased to 40,186 shares. The transaction was executed on December 27, 2024, according to the SEC filing.This insider purchase comes as the stock trades near its 52-week low of $4.13, with InvestingPro data indicating the stock is currently in oversold territory. The company’s shares have declined over 56% in the past six months, and analysis from InvestingPro suggests the stock may be undervalued at current levels. For comprehensive insider trading patterns and 12 additional real-time insights, explore InvestingPro.
In other recent news, Precision BioSciences has achieved notable advancements in gene editing technology. The firm has received approval for its Clinical Trial Application in Hong Kong for PBGENE-HBV, a potential cure for chronic hepatitis B. This approval allows Precision BioSciences to expand its ELIMINATE-B Phase I trial to Hong Kong, targeting the persistent genetic material of the virus in liver cells.
BMO Capital has maintained its Market Perform rating for the company, with a focus on the clinical development of PBGENE-HBV. Precision BioSciences has 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 has showcased the high-efficiency gene editing capabilities of its ARCUS platform at the European Society of Gene & Cell Therapy Congress. The ARCUS platform can perform sophisticated gene edits, such as insertions and replacements, with notable efficiency. The company has also initiated a Phase 1 clinical trial for PBGENE-HBV.
Additionally, Precision BioSciences has reshuffled 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 developments are part of the company’s ongoing efforts to advance gene editing therapies.
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