Precigen (NASDAQ:PGEN) Director Randal Kirk Sells 942,832 Shares

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 942,832 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $4.08, for a total value of $3,846,754.56. Following the sale, the director owned 6,491,552 shares of the company’s stock, valued at approximately $26,485,532.16. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Precigen Price Performance

Shares of PGEN traded down $0.02 during trading hours on Friday, hitting $3.88. 4,626,470 shares of the company were exchanged, compared to its average volume of 4,540,987. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. Precigen, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $5.22. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -2.79 and a beta of 1.71. The firm’s fifty day moving average is $3.82 and its 200 day moving average is $2.71.

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

Institutional Trading of Precigen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Patient Capital Management LLC increased its holdings in shares of Precigen by 62.6% during the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock worth $87,056,000 after buying an additional 10,192,107 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Precigen by 3.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock worth $16,801,000 after acquiring an additional 410,595 shares during the last quarter. Geode Capital Management LLC increased its holdings in Precigen by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after purchasing an additional 269,580 shares in the last quarter. Parkman Healthcare Partners LLC bought a new position in Precigen in the first quarter valued at about $4,755,000. Finally, Bank of America Corp DE raised its position in Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 1,673,731 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PGEN. HC Wainwright upped their price target on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Citigroup restated an “outperform” rating on shares of Precigen in a research report on Tuesday, August 19th. Wall Street Zen downgraded Precigen from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. raised Precigen from an “underweight” rating to a “neutral” rating in a report on Friday, August 15th. Finally, JMP Securities upped their price objective on Precigen from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.