Precigen, Inc. (NASDAQ:PGEN) Stock Has Consensus Price Target of $13.67

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $13.67.

A number of analysts recently issued reports on PGEN shares. Zacks Research cut Precigen from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. B. Riley Financial began coverage on shares of Precigen in a report on Friday, September 25th. They issued a “buy” rating and a $12.00 price target for the company. HC Wainwright increased their price objective on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Thursday.

Precigen Stock Performance

Shares of Precigen stock opened at $6.39 on Friday. The stock’s fifty day simple moving average is $7.29 and its 200 day simple moving average is $5.62. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.28 billion, a PE ratio of -6.14 and a beta of 0.92. Precigen has a 12 month low of $3.04 and a 12 month high of $8.98.

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

Insiders Place Their Bets

In other Precigen news, CFO Harry Thomasian, Jr. sold 100,000 shares of Precigen stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $6.06, for a total value of $606,000.00. Following the sale, the chief financial officer owned 254,535 shares of the company’s stock, valued at $1,542,482.10. This trade represents a 28.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 34,658 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $7.50, for a total value of $259,935.00. Following the completion of the sale, the chief operating officer owned 465,012 shares in the company, valued at approximately $3,487,590. This trade represents a 6.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 401,511 shares of company stock worth $2,801,508. Corporate insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of PGEN. USA Financial Formulas acquired a new stake in Precigen in the 3rd quarter valued at approximately $52,000. State of Wyoming acquired a new stake in shares of Precigen in the first quarter valued at approximately $27,000. Royal Bank of Canada lifted its position in shares of Precigen by 102.6% in the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 5,426 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Precigen in the first quarter worth $43,000. Finally, Perennial Investment Advisors LLC acquired a new position in Precigen during the second quarter worth $68,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

About Precigen

Precigen, Inc (NASDAQ:PGEN) is a clinical-stage biopharmaceutical company focused on developing gene and cell therapies for serious diseases, including cancer, infectious diseases and certain immune-related conditions. The company uses its proprietary technologies to engineer therapies intended to improve treatment precision, durability and accessibility.

Precigen’s pipeline has included PRGN-2012, an investigational immunotherapy for recurrent respiratory papillomatosis, as well as programs based on its UltraCAR-T platform for cancer treatment.