Precigen (NASDAQ:PGEN) Reaches New 52-Week High – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN) shares reached a new 52-week high on Thursday . The company traded as high as $7.34 and last traded at $7.34, with a volume of 3028414 shares traded. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

PGEN has been the subject of several analyst reports. Citizens Jmp increased their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Finally, Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Precigen Stock Up 2.5%

The firm has a market cap of $2.62 billion, a PE ratio of -7.06 and a beta of 1.02. The company’s 50-day simple moving average is $5.70 and its two-hundred day simple moving average is $4.62. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58.

Precigen (NASDAQ:PGEN) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $54.98 million for the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.Precigen’s revenue for the quarter was up 6322.7% compared to the same quarter last year. On average, analysts predict that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Precigen

In related news, CEO Helen Sabzevari sold 346,836 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.89, for a total value of $2,042,864.04. Following the completion of the transaction, the chief executive officer directly owned 3,768,872 shares in the company, valued at $22,198,656.08. This trade represents a 8.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harry Jr. Thomasian sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $6.06, for a total value of $606,000.00. Following the transaction, the chief financial officer directly owned 254,535 shares of the company’s stock, valued at approximately $1,542,482.10. This trade represents a 28.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 989,239 shares of company stock valued at $5,472,960 over the last 90 days. 41.40% of the stock is owned by corporate insiders.

Institutional Trading of Precigen

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 43,245 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after buying an additional 9,043 shares in the last quarter. Strs Ohio purchased a new position in Precigen in the 1st quarter worth about $70,000. Geode Capital Management LLC lifted its stake in Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after acquiring an additional 269,580 shares during the period. Finally, Creative Planning lifted its stake in Precigen by 127.8% during the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 52,901 shares during the period. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Precigen Company Profile

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.