Insider Selling: Precigen (NASDAQ:PGEN) CFO Sells $182,614.24 in Stock

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 41,884 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $182,614.24. Following the completion of the sale, the chief financial officer directly owned 554,535 shares in the company, valued at approximately $2,417,772.60. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Stock Down 1.3%

Shares of NASDAQ:PGEN opened at $3.81 on Thursday. The stock’s 50-day moving average price is $4.06 and its two-hundred day moving average price is $4.09. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. Precigen, Inc. has a 12-month low of $1.30 and a 12-month high of $5.47. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.23 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. On average, research analysts forecast that Precigen, Inc. will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PGEN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Citizens Jmp lifted their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, HC Wainwright lifted their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Institutional Investors Weigh In On Precigen

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Precigen during the 1st quarter valued at about $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen during the 4th quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Precigen during the 3rd quarter valued at about $39,000. Royal Bank of Canada raised its holdings in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 5,426 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Precigen during the 3rd quarter valued at about $41,000. 33.51% of the stock is currently owned by hedge funds and other 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.