Precigen (NASDAQ:PGEN) Price Target Raised to $8.00 at JMP Securities

Precigen (NASDAQ:PGEN) had its price objective boosted by JMP Securities from $6.00 to $8.00 in a research report report published on Tuesday,Benzinga reports. They currently have a market outperform rating on the biotechnology company’s stock.

PGEN has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $8.50 price objective on shares of Precigen in a research report on Tuesday. Citigroup reissued an “outperform” rating on shares of Precigen in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Precigen from an “underweight” rating to a “neutral” rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Precigen in a research report on Thursday, May 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Precigen Trading Up 9.2%

NASDAQ:PGEN opened at $3.22 on Tuesday. Precigen has a 12 month low of $0.65 and a 12 month high of $3.49. The company has a market cap of $959.46 million, a PE ratio of -7.67 and a beta of 1.87. The company has a 50 day simple moving average of $1.74 and a two-hundred day simple moving average of $1.62.

Precigen (NASDAQ:PGEN) last posted its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.67 million. Research analysts forecast that Precigen will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PGEN. Parkman Healthcare Partners LLC bought a new position in Precigen in the 1st quarter worth $4,755,000. Bank of America Corp DE boosted its holdings in Precigen by 258.2% in the 2nd quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock worth $1,182,000 after buying an additional 599,914 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in 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 worth $16,801,000 after buying an additional 410,595 shares during the period. Marshall Wace LLP bought a new position in Precigen in the 2nd quarter worth $524,000. Finally, Diametric Capital LP bought a new position in Precigen in the 2nd quarter worth $476,000. Institutional investors own 33.51% of the company’s stock.

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.