Precigen, Inc. (NASDAQ:PGEN) Given Average Recommendation of “Hold” by Analysts

Precigen, Inc. (NASDAQ:PGEN) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.50.

Several research firms have weighed in on PGEN. Citizens Jmp increased their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. HC Wainwright lifted their price target on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st.

Precigen Price Performance

PGEN stock opened at $4.82 on Monday. The firm’s 50-day moving average price is $4.19 and its two-hundred day moving average price is $4.11. Precigen has a 12-month low of $1.39 and a 12-month high of $5.47. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -4.08 and a beta of 1.06. 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 (NASDAQ:PGEN) last posted its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $23.25 million during the quarter, compared to analyst estimates of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, equities analysts predict that Precigen will post -0.02 earnings per share for the current year.

Insider Activity

In related news, insider Donald P. Lehr sold 29,131 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $127,011.16. Following the completion of the transaction, the insider directly owned 755,461 shares of the company’s stock, valued at $3,293,809.96. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Rutul R. Shah sold 42,703 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 transaction of $186,185.08. Following the completion of the sale, the chief operating officer owned 497,751 shares of the company’s stock, valued at $2,170,194.36. This trade represents a 7.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 5,005,749 shares of company stock worth $16,765,918. 41.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PGEN. State Street Corp grew its stake in Precigen by 141.1% in the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after purchasing an additional 6,335,033 shares during the period. Geode Capital Management LLC lifted its position in Precigen by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after buying an additional 613,340 shares during the period. Occam Crest Management LP lifted its position in Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after buying an additional 799,339 shares during the period. SymBiosis Capital Partners LLC bought a new stake in shares of Precigen during the 4th quarter valued at $12,540,000. Finally, Bank of America Corp DE grew its position in shares of Precigen by 201.1% in the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after buying an additional 1,673,731 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.