Wall Street Zen downgraded shares of Precigen (NASDAQ:PGEN – Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.
Several other equities analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Thursday, October 15th. HC Wainwright boosted their price objective on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. B. Riley Financial initiated coverage on Precigen in a research note on Friday, September 25th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Research downgraded Precigen from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.
Read Our Latest Stock Report on Precigen
Precigen Trading Down 25.9%
PGEN opened at $5.14 on Friday. Precigen has a 12-month low of $3.04 and a 12-month high of $8.98. 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 stock has a market capitalization of $1.83 billion, a PE ratio of -4.94 and a beta of 0.92. The firm’s fifty day moving average price is $7.18 and its 200 day moving average price is $5.28.
Precigen (NASDAQ:PGEN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to analyst estimates of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm’s quarterly revenue was up 6322.7% on a year-over-year basis. As a group, research analysts expect that Precigen will post 0.23 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, COO Rutul R. Shah sold 15,342 shares of Precigen stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total value of $115,065.00. Following the completion of the transaction, the chief operating officer directly owned 468,865 shares of the company’s stock, valued at approximately $3,516,487.50. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 B. Kindler sold 185,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the sale, the director directly owned 17,100 shares of the company’s stock, valued at approximately $127,224. This represents a 91.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 267,739 shares of company stock worth $1,975,990 over the last three months. 41.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Precigen
Large investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Precigen in the first quarter valued at approximately $27,000. Royal Bank of Canada raised its position in shares of 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 during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Precigen during the 1st quarter worth approximately $43,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Precigen during the 3rd quarter worth approximately $46,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Precigen in the 1st quarter worth approximately $49,000. Institutional investors own 33.51% of the company’s stock.
About Precigen
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.
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