Patient Capital Management LLC Grows Stake in Precigen, Inc. $PGEN

Patient Capital Management LLC lifted its holdings in shares of Precigen, Inc. (NASDAQ:PGEN) by 62.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,460,848 shares of the biotechnology company’s stock after acquiring an additional 10,192,107 shares during the period. Precigen accounts for approximately 3.5% of Patient Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Patient Capital Management LLC owned approximately 8.88% of Precigen worth $87,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PGEN. Geode Capital Management LLC increased its stake in Precigen by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after purchasing an additional 269,580 shares during the last quarter. Bank of America Corp DE raised its stake in Precigen by 258.2% during the 2nd quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock worth $1,182,000 after acquiring an additional 599,914 shares in the last quarter. Marshall Wace LLP purchased a new stake in Precigen in the second quarter valued at $524,000. Diametric Capital LP purchased a new stake in Precigen in the second quarter valued at $476,000. Finally, Inspire Investing LLC boosted its stake in Precigen by 17.3% in the second quarter. Inspire Investing LLC now owns 275,870 shares of the biotechnology company’s stock valued at $392,000 after acquiring an additional 40,758 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. HC Wainwright boosted their target price on Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Precigen presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Insider Activity

In related news, Director Randal J. Kirk sold 1,900,036 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares of the company’s stock, valued at $1,426,170.02. This represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 4,866,329 shares of company stock worth $20,233,899 in the last quarter. Insiders own 47.10% of the company’s stock.

Precigen Price Performance

Precigen stock opened at $4.39 on Wednesday. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95. The business has a 50 day simple moving average of $4.09 and a 200-day simple moving average of $3.50. Precigen, Inc. has a 12 month low of $1.11 and a 12 month high of $5.22. The stock has a market capitalization of $1.55 billion, a PE ratio of -3.16 and a beta of 1.10.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $2.92 million during the quarter, compared to analyst estimates of $0.67 million. Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. Equities analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current year.

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.