Citizens Jmp Raises Precigen (NASDAQ:PGEN) Price Target to $11.00

Precigen (NASDAQ:PGEN) had its target price lifted by analysts at Citizens Jmp from $9.00 to $11.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s price target suggests a potential upside of 138.46% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. HC Wainwright boosted their price target on shares of Precigen from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.00.

Precigen Price Performance

Shares of NASDAQ PGEN traded up $0.46 during mid-day trading on Thursday, reaching $4.61. 2,719,771 shares of the company were exchanged, compared to its average volume of 4,174,576. Precigen has a 52 week low of $1.26 and a 52 week high of $5.47. The company’s 50 day moving average price is $3.81 and its 200 day moving average price is $4.07. The stock has a market capitalization of $1.64 billion, a PE ratio of -3.47 and a beta of 1.07. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%.The business had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. Sell-side analysts forecast that Precigen will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Precigen

In related news, Director Randal J. Kirk sold 4,772,781 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the sale, the director directly owned 302,213 shares of the company’s stock, valued at $997,302.90. This trade represents a 94.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of large investors have recently made changes to their positions in the business. Xponance LLC increased its stake in shares of Precigen by 21.3% during the fourth quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 2,496 shares during the period. BNP Paribas Financial Markets increased its position in Precigen by 6.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 2,993 shares during the period. Composition Wealth LLC increased its position in Precigen by 16.5% during the 4th quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 3,000 shares during the period. Intech Investment Management LLC raised its holdings in Precigen by 5.2% in the 4th quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 3,137 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Precigen by 6.8% in the 3rd quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,200 shares during the period. 33.51% of the stock is currently owned by institutional investors.

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.