Precigen (NASDAQ:PGEN – Get Free Report) had its price target upped by stock analysts at HC Wainwright from $11.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 218.18% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp raised their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.
Check Out Our Latest Analysis on PGEN
Precigen Stock Performance
Precigen (NASDAQ:PGEN – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%.The business had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. On average, research analysts anticipate that Precigen will post 0.04 earnings per share for the current year.
Insider Activity at Precigen
In other news, Director Randal J. Kirk sold 4,772,781 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the transaction, the director owned 302,213 shares of the company’s stock, valued at $997,302.90. This represents a 94.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 47.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Precigen
Large investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Precigen in the 1st quarter valued at $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen in the 4th quarter valued at $38,000. Mason Investment Advisory Services Inc. purchased a new stake in shares of Precigen in the 4th quarter valued at $42,000. Abel Hall LLC purchased a new stake in shares of Precigen in the 4th quarter valued at $44,000. Finally, Royal Bank of Canada raised its holdings in shares of Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 5,426 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.
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.
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