Precigen, Inc. (NASDAQ:PGEN) Receives $8.50 Average Target Price from Brokerages

Precigen, Inc. (NASDAQ:PGEN) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.50.

A number of analysts recently weighed in on PGEN shares. HC Wainwright upped their price objective on shares of Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the company’s stock in a transaction on 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 sale, the director directly owned 341,189 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Insiders sold 4,866,329 shares of company stock worth $20,233,899 over the last ninety days. Corporate insiders own 47.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. AQR Capital Management LLC increased its position in shares of Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 9,043 shares during the period. Strs Ohio bought a new position in Precigen in the 1st quarter valued at about $70,000. Voya Investment Management LLC raised its position in shares of Precigen by 142.9% in the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 21,633 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Precigen by 17.3% during the 2nd quarter. Inspire Investing LLC now owns 275,870 shares of the biotechnology company’s stock worth $392,000 after acquiring an additional 40,758 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Trading Up 6.5%

Shares of PGEN opened at $4.41 on Friday. The stock’s 50-day moving average price is $4.08 and its 200 day moving average price is $3.46. 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 has a 12-month low of $1.08 and a 12-month high of $5.22. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.17 and a beta of 1.10.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. As a group, research analysts predict that Precigen will post -0.32 earnings per share for the current year.

About Precigen

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.