Precigen, Inc. (NASDAQ:PGEN – Get Free Report) shares traded down 5.6% on Tuesday . The company traded as low as $3.91 and last traded at $3.9350. 1,820,932 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 4,566,881 shares. The stock had previously closed at $4.17.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Citizens Jmp upped their price target on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. HC Wainwright upped their price target on shares of Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.50.
Read Our Latest Report on PGEN
Precigen Stock Performance
Precigen (NASDAQ:PGEN – Get Free Report) last issued its earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $4.57 million for the quarter, compared to analyst estimates of $8.29 million. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%. On average, analysts forecast that Precigen, Inc. will post -0.32 EPS for the current fiscal year.
Insider Activity
In other news, Director Randal J. Kirk sold 4,772,781 shares of Precigen 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 completion of the transaction, the director owned 302,213 shares in the company, valued at approximately $997,302.90. This trade represents a 94.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 47.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Lansing Street Advisors acquired a new stake in shares of Precigen during the third quarter valued at $1,800,000. Patient Capital Management LLC raised its stake in shares of Precigen by 62.6% in the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock worth $87,056,000 after buying an additional 10,192,107 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Precigen during the third quarter worth $2,796,000. Strs Ohio grew its stake in Precigen by 6.8% in the third quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in Precigen during the 3rd quarter valued at approximately $48,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.
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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