Precigen (NASDAQ:PGEN) Upgraded at Wall Street Zen

Precigen (NASDAQ:PGEN) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Precigen in a research report on Thursday, May 15th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Precigen in a research note on Thursday, March 20th. Finally, JMP Securities reiterated a “market outperform” rating and set a $6.00 target price on shares of Precigen in a research note on Thursday, June 12th.

Precigen Price Performance

PGEN stock opened at $1.83 on Friday. Precigen has a 52-week low of $0.65 and a 52-week high of $2.17. The company’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $1.48. The firm has a market capitalization of $540.18 million, a P/E ratio of -3.27 and a beta of 1.78.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results 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. The business had revenue of $1.34 million for the quarter, compared to analyst estimates of $0.50 million. Precigen had a negative net margin of 3,728.87% and a negative return on equity of 279.20%. Sell-side analysts predict that Precigen will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Precigen

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Parkman Healthcare Partners LLC bought a new stake in Precigen during the 1st quarter worth about $4,755,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Precigen by 3.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock valued at $16,801,000 after purchasing an additional 410,595 shares during the period. Inspire Investing LLC bought a new stake in shares of Precigen in the 1st quarter valued at about $350,000. Nuveen LLC bought a new stake in shares of Precigen in the 1st quarter valued at about $275,000. Finally, Mill Creek Capital Advisors LLC raised its holdings in shares of Precigen by 131.8% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company’s stock valued at $380,000 after purchasing an additional 145,000 shares during the period. 33.51% of the stock is owned by institutional investors.

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.