Investors Purchase High Volume of Precigen Call Options (NASDAQ:PGEN)

Precigen, Inc. (NASDAQ:PGEN – Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders acquired 5,112 call options on the stock. This represents an increase of approximately 116% compared to the typical volume of 2,366 call options.

Precigen Stock Performance

Shares of NASDAQ PGEN traded up $0.01 during trading on Wednesday, hitting $5.51. The company had a trading volume of 1,137,408 shares, compared to its average volume of 4,561,722. Precigen has a 12 month low of $1.47 and a 12 month high of $6.04. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The firm has a market capitalization of $1.97 billion, a P/E ratio of -4.67 and a beta of 1.00. The stock has a 50 day simple moving average of $4.55 and a 200 day simple moving average of $4.27.

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Precigen (NASDAQ:PGEN – Get Free Report) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The company had revenue of $23.25 million during the quarter, compared to analyst estimates of $20.81 million. As a group, analysts anticipate that Precigen will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PGEN. Citigroup reissued an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Citizens Jmp upped their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. HC Wainwright boosted 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. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.50.

Get Our Latest Stock Report on PGEN

Insiders Place Their Bets

In related news, CFO Harry Jr. Thomasian sold 171,429 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the sale, the chief financial officer directly owned 354,535 shares of the company’s stock, valued at $1,960,578.55. This trade represents a 32.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Sabzevari sold 346,836 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the transaction, the chief executive officer owned 3,768,872 shares in the company, valued at $22,198,656.08. This represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 822,728 shares of company stock valued at $4,422,853. Company insiders own 41.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in Precigen during the first quarter valued at about $27,000. NBC Securities Inc. purchased a new position in Precigen in the 4th quarter worth approximately $38,000. Mason Investment Advisory Services Inc. purchased a new position in Precigen in the 4th quarter worth approximately $42,000. Abel Hall LLC bought a new position in Precigen in the 4th quarter worth approximately $44,000. Finally, Royal Bank of Canada grew its holdings in Precigen by 102.6% during 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 in the last quarter. Institutional investors own 33.51% of the company’s stock.

Precigen Company Profile

(Get Free Report)

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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