Precigen (NASDAQ:PGEN) Trading Up 7.5% – Still a Buy?

Precigen, Inc. (NASDAQ:PGEN)’s stock price shot up 7.5% during trading on Monday . The stock traded as high as $4.20 and last traded at $4.2780. 963,296 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,460,512 shares. The stock had previously closed at $3.98.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PGEN shares. HC Wainwright boosted their target price on shares of Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp upped their target price on Precigen from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen raised Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Precigen has an average rating of “Hold” and a consensus price target of $9.50.

Precigen Price Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -3.06 and a beta of 1.12. The stock’s 50 day moving average price is $3.91 and its two-hundred day moving average price is $4.00. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $4.57 million during the quarter, compared to analysts’ expectations of $8.29 million. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%. Equities research analysts forecast that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Insider Activity at Precigen

In other news, Director Randal J. Kirk sold 4,772,781 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the sale, the director owned 302,213 shares of the company’s stock, valued at $997,302.90. This trade represents a 94.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 47.10% of the stock is owned by insiders.

Institutional Trading of Precigen

Several institutional investors have recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV acquired a new stake in Precigen in the first quarter valued at approximately $60,000. Investment Insight Wealth Management LLC acquired a new position in Precigen during the fourth quarter worth $443,000. Invesco Ltd. raised its position in Precigen by 250.8% during the fourth quarter. Invesco Ltd. now owns 373,782 shares of the biotechnology company’s stock worth $1,562,000 after acquiring an additional 267,223 shares during the period. NewEdge Advisors LLC acquired a new position in Precigen during the fourth quarter worth $45,000. Finally, XTX Topco Ltd raised its position in Precigen by 25.2% during the fourth quarter. XTX Topco Ltd now owns 49,668 shares of the biotechnology company’s stock worth $208,000 after acquiring an additional 10,005 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

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.