Precigen (NASDAQ:PGEN – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $14.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 123.29% from the stock’s previous close.
Several other analysts also recently commented on PGEN. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Citizens Jmp raised their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Finally, Wall Street Zen cut shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.
Get Our Latest Stock Analysis on PGEN
Precigen Stock Performance
Precigen (NASDAQ:PGEN – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%.The company had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. As a group, research analysts forecast that Precigen will post -0.02 earnings per share for the current year.
Insider Transactions at Precigen
In other Precigen news, CFO Harry Jr. Thomasian sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $6.06, for a total transaction of $606,000.00. Following the completion of the transaction, the chief financial officer owned 254,535 shares of the company’s stock, valued at $1,542,482.10. This represents a 28.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 42,924 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.85, for a total transaction of $251,105.40. Following the transaction, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at $2,911,843.35. This represents a 7.94% 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. Insiders sold a total of 922,728 shares of company stock worth $5,028,853 in the last 90 days. 41.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Occam Crest Management LP boosted its stake in shares of Precigen by 29.6% during the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after buying an additional 799,339 shares during the last quarter. KBC Group NV acquired a new stake in shares of Precigen in the first quarter valued at about $1,338,000. UBS Group AG increased its position in shares of Precigen by 41.4% in the fourth quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after acquiring an additional 260,824 shares during the last quarter. Investment Insight Wealth Management LLC bought a new stake in Precigen during the fourth quarter worth about $443,000. Finally, Impala Asset Management LLC bought a new stake in Precigen during the fourth quarter worth about $690,000. Institutional investors and hedge funds own 33.51% of the company’s stock.
About Precigen
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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