Occam Crest Management LP boosted its stake in shares of Precigen, Inc. (NASDAQ:PGEN – Free Report) by 29.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,501,739 shares of the biotechnology company’s stock after buying an additional 799,339 shares during the period. Precigen accounts for 10.2% of Occam Crest Management LP’s investment portfolio, making the stock its 2nd largest position. Occam Crest Management LP’s holdings in Precigen were worth $14,637,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PGEN. NBC Securities Inc. acquired a new position in Precigen during the fourth quarter worth $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Precigen in the 3rd quarter valued at $39,000. Russell Investments Group Ltd. acquired a new position in shares of Precigen in the 3rd quarter valued at $41,000. Mason Investment Advisory Services Inc. acquired a new position in shares of Precigen in the 4th quarter valued at $42,000. Finally, Asempa Wealth Advisors acquired a new position in shares of Precigen in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 33.51% of the company’s stock.
Precigen Price Performance
PGEN opened at $4.80 on Tuesday. The stock’s 50-day moving average price is $4.13 and its 200 day moving average price is $4.08. Precigen, Inc. has a 12-month low of $1.38 and a 12-month high of $5.47. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -4.07 and a beta of 1.06.
Analyst Ratings Changes
Several brokerages have recently commented on PGEN. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Citizens Jmp upped their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Finally, HC Wainwright upped their price target on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Precigen currently has a consensus rating of “Hold” and a consensus target price of $12.50.
Check Out Our Latest Stock Analysis on Precigen
Insider Buying and Selling
In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald P. Lehr sold 29,131 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $127,011.16. Following the completion of the sale, the insider directly owned 755,461 shares in the company, valued at $3,293,809.96. This represents a 3.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,005,749 shares of company stock worth $16,765,918 over the last ninety days. Company insiders own 41.40% of the company’s stock.
Precigen 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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