Precigen, Inc. (NASDAQ:PGEN) Short Interest Update

Precigen, Inc. (NASDAQ:PGEN) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 35,580,646 shares, a growth of 28.2% from the December 15th total of 27,758,985 shares. Currently, 19.0% of the shares of the company are sold short. Based on an average trading volume of 6,911,562 shares, the days-to-cover ratio is currently 5.1 days. Based on an average trading volume of 6,911,562 shares, the days-to-cover ratio is currently 5.1 days. Currently, 19.0% of the shares of the company are sold short.

Insiders Place Their Bets

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the company’s 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 sale, the director directly owned 341,189 shares in the company, valued at $1,426,170.02. This represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 4,866,329 shares of company stock worth $20,233,899. 47.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently modified their holdings of PGEN. Asempa Wealth Advisors acquired a new stake in Precigen in the 4th quarter valued at $48,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Precigen in the 3rd quarter worth about $39,000. Russell Investments Group Ltd. acquired a new position in Precigen in the third quarter valued at about $41,000. Vontobel Holding Ltd. bought a new stake in Precigen during the third quarter worth about $48,000. Finally, CIBC Bancorp USA Inc. bought a new stake in Precigen during the third quarter worth about $53,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Stock Performance

Shares of NASDAQ PGEN traded up $0.27 during trading hours on Friday, reaching $4.41. The stock had a trading volume of 3,636,852 shares, compared to its average volume of 4,749,462. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -3.17 and a beta of 1.10. Precigen has a twelve month low of $1.08 and a twelve month high of $5.22. The business’s fifty day moving average is $4.08 and its two-hundred day moving average is $3.46. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results 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). Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. As a group, research analysts expect that Precigen will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

PGEN has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, HC Wainwright boosted their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Four equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.