Precigen, Inc. (NASDAQ:PGEN – Get Free Report)’s share price shot up 5.5% during mid-day trading on Monday . The stock traded as high as $6.46 and last traded at $6.4350. Approximately 485,627 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,615,058 shares. The stock had previously closed at $6.10.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on PGEN shares. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. HC Wainwright raised their price objective on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Finally, Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Precigen currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.
Check Out Our Latest Stock Analysis on PGEN
Precigen Price Performance
Precigen (NASDAQ:PGEN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The business’s revenue for the quarter was up 6322.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Donald P. Lehr sold 29,131 shares of the company’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 $127,011.16. Following the sale, the insider directly owned 755,461 shares of the company’s stock, valued at approximately $3,293,809.96. This represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 100,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $6.06, for a total transaction of $606,000.00. Following the completion of the sale, the chief financial officer directly owned 254,535 shares in the company, valued at approximately $1,542,482.10. The trade was a 28.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 989,239 shares of company stock worth $5,472,960. 41.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Precigen
Hedge funds and other institutional investors have recently bought and sold shares of the business. Xponance LLC lifted its position in Precigen by 21.3% during the fourth quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 2,496 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Precigen by 6.1% in the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 2,993 shares during the period. Composition Wealth LLC increased its position in Precigen by 16.5% during the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC boosted its holdings in Precigen by 5.2% in the 4th quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 3,137 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Precigen by 0.9% during the first quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock worth $1,449,000 after purchasing an additional 3,250 shares during the period. 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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