Precigen, Inc. (NASDAQ:PGEN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.67.

Several analysts have issued reports on the company. Wall Street Zen upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. B. Riley Financial began coverage on shares of Precigen in a report on Friday, September 25th. They set a “buy” rating and a $12.00 target price on the stock. Finally, HC Wainwright lifted their price target on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 5th.

Insider Transactions at Precigen

In related news, COO Rutul Shah sold 15,342 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the transaction, the chief operating officer owned 468,865 shares in the company, valued at $3,516,487.50. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Thomasian, Jr. sold 100,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $6.06, for a total value of $606,000.00. Following the completion of the sale, the chief financial officer directly owned 254,535 shares in the company, valued at $1,542,482.10. This represents a 28.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 401,511 shares of company stock worth $2,801,508. 41.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP grew its position in Precigen by 207.8% in the 2nd quarter. Engineers Gate Manager LP now owns 40,880 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 27,600 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Precigen in the second quarter valued at approximately $73,000. Squarepoint Ops LLC raised its holdings in shares of Precigen by 462.8% during the second quarter. Squarepoint Ops LLC now owns 353,272 shares of the biotechnology company’s stock valued at $2,014,000 after buying an additional 290,505 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Precigen by 10.5% during the second quarter. Arizona State Retirement System now owns 53,713 shares of the biotechnology company’s stock valued at $306,000 after buying an additional 5,086 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Precigen during the second quarter worth approximately $227,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Price Performance

Shares of PGEN stock opened at $8.05 on Wednesday. The firm has a market cap of $2.87 billion, a P/E ratio of -7.74 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. Precigen has a 1-year low of $2.99 and a 1-year high of $8.27. The firm has a fifty day moving average of $6.88 and a two-hundred day moving average of $5.24.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The company had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. The business’s revenue was up 6322.7% compared to the same quarter last year. As a group, research analysts anticipate that Precigen will post 0.24 earnings per share for the current fiscal year.

Precigen Company Profile

Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.