Precigen (NASDAQ:PGEN) COO Sells $251,105.40 in Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,924 shares of Precigen stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.85, for a total transaction of $251,105.40. Following the sale, the chief operating officer directly owned 497,751 shares in the company, valued at approximately $2,911,843.35. The trade was a 7.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Trading Down 7.9%

Precigen stock traded down $0.45 during mid-day trading on Wednesday, hitting $5.25. The company’s stock had a trading volume of 7,446,304 shares, compared to its average volume of 4,558,847. The stock’s fifty day moving average is $4.40 and its two-hundred day moving average is $4.21. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $1.87 billion, a PE ratio of -4.45 and a beta of 1.06. Precigen, Inc. has a 1 year low of $1.45 and a 1 year high of $6.04.

Precigen (NASDAQ:PGEN) last posted 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 717.50% and a negative net margin of 646.99%.The company had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. On average, analysts anticipate that Precigen, Inc. will post -0.02 EPS for the current year.

Institutional Trading of Precigen

Several hedge funds have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new position in shares of Precigen in the third quarter valued at approximately $2,796,000. Occam Crest Management LP increased its stake in Precigen by 29.6% during the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after buying an additional 799,339 shares during the period. Investment Insight Wealth Management LLC acquired a new stake in Precigen during the 4th quarter worth approximately $443,000. UBS Group AG boosted its position in Precigen by 41.4% in the 4th quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after buying an additional 260,824 shares during the period. Finally, Impala Asset Management LLC acquired a new position in Precigen during the 4th quarter worth $690,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analyst Ratings Changes

PGEN has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Finally, HC Wainwright increased their price objective on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Precigen has a consensus rating of “Hold” and an average target price of $12.50.

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.