Precigen (NASDAQ:PGEN) Trading Down 9% – Here’s Why

Shares of Precigen, Inc. (NASDAQ:PGEN) dropped 9% during trading on Monday . The stock traded as low as $3.38 and last traded at $3.3390. Approximately 2,699,863 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 4,402,854 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PGEN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. Citizens Jmp upped their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday. HC Wainwright lifted their price target on Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded Precigen from a “sell” rating to a “hold” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.50.

Precigen Stock Down 11.2%

The firm’s fifty day moving average is $4.08 and its 200-day moving average is $3.97. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The business had revenue of $4.57 million during the quarter, compared to the consensus estimate of $8.29 million. As a group, equities research analysts predict that Precigen, Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Precigen

Hedge funds have recently modified their holdings of the company. Investment Insight Wealth Management LLC bought a new stake in Precigen during the 4th quarter worth $443,000. Invesco Ltd. raised its position in Precigen by 250.8% in the fourth quarter. Invesco Ltd. now owns 373,782 shares of the biotechnology company’s stock valued at $1,562,000 after purchasing an additional 267,223 shares during the last quarter. NewEdge Advisors LLC bought a new position in Precigen in the fourth quarter valued at about $45,000. XTX Topco Ltd boosted its stake in shares of Precigen by 25.2% during the fourth quarter. XTX Topco Ltd now owns 49,668 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 10,005 shares in the last quarter. Finally, VARCOV Co. bought a new stake in shares of Precigen during the fourth quarter worth about $224,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

About Precigen

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.