Investors Purchase High Volume of Call Options on Precigen (NASDAQ:PGEN)

Precigen, Inc. (NASDAQ:PGEN) was the recipient of unusually large options trading on Thursday. Investors acquired 18,255 call options on the company. Thisisanincreaseofapproximately379% compared to the average volume of 3,812 call options.

Analysts Set New Price Targets

Several research firms have issued reports on PGEN. Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Precigen in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. HC Wainwright restated a “buy” rating and set a $8.50 target price on shares of Precigen in a research report on Tuesday. Finally, JMP Securities boosted their target price on shares of Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Precigen Price Performance

PGEN opened at $4.18 on Friday. Precigen has a 12-month low of $0.65 and a 12-month high of $4.21. The firm’s fifty day moving average price is $1.87 and its 200 day moving average price is $1.67. The stock has a market capitalization of $1.25 billion, a PE ratio of -9.95 and a beta of 1.87.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $0.67 million. On average, equities research analysts forecast that Precigen will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted 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 buying an additional 410,595 shares during the period. Geode Capital Management LLC increased its holdings in shares of Precigen by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after purchasing an additional 269,580 shares during the period. Parkman Healthcare Partners LLC acquired a new position in shares of Precigen during the first quarter valued at $4,755,000. Northern Trust Corp raised its stake in shares of Precigen by 11.6% in the 4th quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company’s stock worth $1,309,000 after buying an additional 121,700 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.