Cantor Fitzgerald Reiterates “Overweight” Rating for Precigen (NASDAQ:PGEN)

Precigen (NASDAQ:PGEN)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports.

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Precigen in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Precigen Trading Up 10.7%

PGEN opened at $1.45 on Thursday. Precigen has a 12-month low of $0.65 and a 12-month high of $2.17. The business’s fifty day simple moving average is $1.50 and its 200-day simple moving average is $1.30. The company has a market capitalization of $427.99 million, a price-to-earnings ratio of -2.64 and a beta of 1.82.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.34 million during the quarter, compared to analysts’ expectations of $0.50 million. Precigen had a negative return on equity of 123.06% and a negative net margin of 3,521.68%. On average, equities research analysts predict that Precigen will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Precigen

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in Precigen in the fourth quarter valued at about $27,000. Envestnet Asset Management Inc. raised its stake in Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 5,915 shares during the last quarter. Apella Capital LLC purchased a new stake in Precigen in the first quarter valued at about $40,000. Boothbay Fund Management LLC purchased a new stake in Precigen in the fourth quarter valued at about $35,000. Finally, RPO LLC purchased a new stake in Precigen in the fourth quarter valued at about $47,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

About Precigen

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.