Precigen, Inc. (NASDAQ:PGEN – Get Free Report)’s share price traded up 14.3% during trading on Thursday . The stock traded as high as $4.33 and last traded at $4.4460. 2,302,149 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 4,320,538 shares. The stock had previously closed at $3.89.
Analyst Ratings Changes
Several analysts have recently commented on the company. Citizens Jmp increased their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Finally, HC Wainwright upped their target price on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Precigen currently has an average rating of “Hold” and a consensus price target of $12.50.
View Our Latest Report on PGEN
Precigen Stock Up 14.6%
Precigen (NASDAQ:PGEN – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Sell-side analysts predict that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Precigen news, insider Donald P. Lehr sold 29,131 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $127,011.16. Following the sale, the insider owned 755,461 shares in the company, valued at $3,293,809.96. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 41,884 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $182,614.24. Following the sale, the chief financial officer owned 554,535 shares in the company, valued at $2,417,772.60. The trade was a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,005,749 shares of company stock valued at $16,765,918 in the last ninety days. 47.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Precigen
A number of large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after purchasing an additional 6,335,033 shares in the last quarter. Geode Capital Management LLC raised its position in Precigen by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after purchasing an additional 613,340 shares in the last quarter. Occam Crest Management LP raised its position in Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after purchasing an additional 799,339 shares in the last quarter. SymBiosis Capital Partners LLC purchased a new stake in Precigen during the fourth quarter valued at about $12,540,000. Finally, Bank of America Corp DE raised its position in Precigen by 201.1% during 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 in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.
Precigen Company Profile
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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