Precigen, Inc. (PGEN) – What Are Investment Firms Thinking About This Stock?

Precigen, Inc. (NASDAQ:PGEN – Get Free Report) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $13.67.

Several research analysts have recently weighed in on PGEN shares. Zacks Research cut shares of Precigen from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Thursday, October 15th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. HC Wainwright boosted their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, B. Riley Financial began coverage on Precigen in a report on Friday, September 25th. They set a “buy” rating and a $12.00 price target on the stock.

Check Out Our Latest Report on PGEN

Insider Buying and Selling

In related news, COO Rutul Shah sold 15,342 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the sale, the chief operating officer owned 468,865 shares in the company, valued at approximately $3,516,487.50. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey Kindler sold 185,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total value of $1,376,400.00. Following the completion of the transaction, the director directly owned 17,100 shares in the company, valued at approximately $127,224. This represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 401,511 shares of company stock valued at $2,801,508 over the last 90 days. Company insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

Several hedge funds and other institutional investors have recently made changes to their positions in PGEN. State of Wyoming purchased a new position in shares of Precigen in the first quarter worth approximately $27,000. Royal Bank of Canada grew its position in Precigen by 102.6% during the first 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. Chicago Partners Investment Group LLC bought a new stake in Precigen during the first quarter valued at approximately $43,000. Y Intercept Hong Kong Ltd purchased a new stake in Precigen during the first quarter valued at approximately $49,000. Finally, USA Financial Formulas purchased a new stake in Precigen during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Price Performance

Shares of NASDAQ:PGEN opened at $6.39 on Friday. Precigen has a fifty-two week low of $3.04 and a fifty-two week high of $8.98. The business has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $5.71. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -6.14 and a beta of 0.92.

Precigen (NASDAQ:PGEN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $54.98 million for the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business’s quarterly revenue was up 6322.7% compared to the same quarter last year. On average, analysts expect that Precigen will post 0.24 earnings per share for the current year.

Precigen Company Profile

(Get Free Report)

Precigen, Inc is a clinical-stage biotechnology company focused on developing gene and cell therapies for cancer and serious diseases. The company uses its proprietary UltraCAR-T, AdenoVerse, and other gene-engineering platforms to design potential treatments intended to improve the targeting, persistence, and manufacturing of therapeutic cells and genetic medicines.

Precigen’s pipeline has included PRGN-2012, an investigational immunotherapy based on a gorilla adenovector for recurrent respiratory papillomatosis, as well as PRGN-2001, an investigational HPV-targeted immunotherapy.

See Also

Analyst Recommendations for Precigen (NASDAQ:PGEN)

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