Precigen (NASDAQ:PGEN) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Precigen (NASDAQ:PGEN) in a research note published on Thursday,Benzinga reports. The firm currently has a $6.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on PGEN. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Precigen in a report on Thursday, May 15th.

Precigen Stock Up 1.3%

Precigen stock opened at $1.52 on Thursday. Precigen has a 52-week low of $0.65 and a 52-week high of $2.17. The firm has a market capitalization of $448.67 million, a price-to-earnings ratio of -2.76 and a beta of 1.85. The company has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.37.

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

Institutional Trading of Precigen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGEN. SG Americas Securities LLC raised its holdings in Precigen by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 57,641 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 12,578 shares in the last quarter. Rhumbline Advisers raised its holdings in Precigen by 7.3% during the fourth quarter. Rhumbline Advisers now owns 197,134 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 13,338 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Precigen by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock worth $1,432,000 after purchasing an additional 56,012 shares in the last quarter. Fore Capital LLC raised its holdings in Precigen by 27.7% during the fourth quarter. Fore Capital LLC now owns 391,811 shares of the biotechnology company’s stock worth $439,000 after purchasing an additional 85,000 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Precigen by 29.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 331,476 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 74,422 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Company Profile

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.