Patient Capital Management LLC acquired a new position in Precigen, Inc. (NASDAQ:PGEN – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,036,976 shares of the biotechnology company’s stock, valued at approximately $108,511,000. Precigen accounts for about 3.6% of Patient Capital Management LLC’s holdings, making the stock its 12th largest position. Patient Capital Management LLC owned 5.34% of Precigen as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State of Wyoming bought a new position in shares of Precigen in the first quarter worth $27,000. NBC Securities Inc. bought a new stake in shares of Precigen during the 4th quarter valued at $38,000. Mason Investment Advisory Services Inc. bought a new stake in shares of Precigen during the 4th quarter valued at $42,000. Abel Hall LLC bought a new stake in shares of Precigen during the 4th quarter valued at $44,000. Finally, Royal Bank of Canada lifted its holdings in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 5,426 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.
Precigen Stock Performance
Shares of Precigen stock opened at $7.20 on Monday. Precigen, Inc. has a 1 year low of $2.99 and a 1 year high of $7.50. The firm has a market cap of $2.57 billion, a PE ratio of -6.92 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. The company has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $4.65.
Wall Street Analyst Weigh In
PGEN has been the subject of several analyst reports. Citizens Jmp raised their target price on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Citigroup reissued an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Precigen presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.
View Our Latest Stock Analysis on Precigen
Insider Activity at Precigen
In related news, CFO Harry Jr. Thomasian sold 100,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $6.06, for a total value of $606,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 32,739 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $6.86, for a total value of $224,589.54. Following the sale, the chief operating officer owned 465,012 shares in the company, valued at $3,189,982.32. The trade was a 6.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 989,239 shares of company stock valued at $5,472,960. 41.40% of the stock is currently owned by insiders.
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.
Featured Stories
- Five stocks we like better than Precigen
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Receive News & Ratings for Precigen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precigen and related companies with MarketBeat.com's FREE daily email newsletter.
