Precigen, Inc. (NASDAQ:PGEN) Holdings Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its holdings in Precigen, Inc. (NASDAQ:PGEN) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,719 shares of the biotechnology company’s stock after selling 29,000 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.07% of Precigen worth $286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGEN. Apella Capital LLC purchased a new position in shares of Precigen in the first quarter worth approximately $40,000. ProShare Advisors LLC increased its position in shares of Precigen by 26.6% in the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 10,900 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Precigen by 8.9% in the fourth quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company’s stock worth $318,000 after acquiring an additional 23,250 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Precigen in the fourth quarter worth approximately $98,000. Finally, Bank of America Corp DE increased its position in shares of Precigen by 11.6% in the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 21,626 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PGEN shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Precigen in a research report on Thursday, May 15th. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price objective on shares of Precigen in a research report on Thursday, June 12th. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Precigen in a research report on Thursday, March 20th.

Precigen Stock Performance

Shares of PGEN stock opened at $1.83 on Friday. The stock has a market cap of $540.18 million, a price-to-earnings ratio of -3.27 and a beta of 1.78. The firm has a fifty day moving average of $1.46 and a 200-day moving average of $1.48. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $2.17.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $1.34 million during the quarter, compared to analysts’ expectations of $0.50 million. Precigen had a negative net margin of 3,728.87% and a negative return on equity of 279.20%. On average, sell-side analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current year.

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.