Investment Insight Wealth Management LLC acquired a new stake in shares of Precigen, Inc. (NASDAQ:PGEN – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 105,906 shares of the biotechnology company’s stock, valued at approximately $443,000. Precigen accounts for 0.4% of Investment Insight Wealth Management LLC’s portfolio, making the stock its 26th biggest position.
Several other institutional investors and hedge funds also recently made changes to their positions in PGEN. NBC Securities Inc. acquired a new stake in shares of Precigen during the 4th quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Precigen in the third quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new position in Precigen in the third quarter valued at about $41,000. Mason Investment Advisory Services Inc. bought a new stake in Precigen during the fourth quarter worth about $42,000. Finally, Abel Hall LLC bought a new stake in Precigen during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 33.51% of the company’s stock.
Analyst Upgrades and Downgrades
PGEN has been the subject of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. HC Wainwright increased their price target on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen cut Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Finally, Citizens Jmp boosted their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Three 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 company currently has an average rating of “Hold” and an average price target of $12.50.
Insider Transactions at Precigen
In related news, insider Donald P. Lehr sold 29,131 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 755,461 shares in the company, valued at $3,293,809.96. The trade was a 3.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 41,884 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $182,614.24. Following the transaction, the chief financial officer directly owned 554,535 shares in the company, valued at approximately $2,417,772.60. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,005,749 shares of company stock worth $16,765,918 over the last ninety days. 41.40% of the stock is currently owned by insiders.
Precigen Trading Up 1.9%
PGEN opened at $4.82 on Friday. Precigen, Inc. has a 1-year low of $1.39 and a 1-year high of $5.47. The stock has a market capitalization of $1.72 billion, a PE ratio of -4.08 and a beta of 1.06. 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 50-day moving average price of $4.17 and a two-hundred day moving average price of $4.10.
Precigen (NASDAQ:PGEN – Get Free Report) last announced its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $20.81 million. As a group, equities analysts anticipate that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.
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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