Precigen, Inc. (NASDAQ:PGEN) Receives Consensus Rating of “Moderate Buy” from Analysts

Precigen, Inc. (NASDAQ:PGEN) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.25.

Several equities analysts have issued reports on PGEN shares. JMP Securities boosted their price objective on shares of Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $8.50 price objective on shares of Precigen in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised shares of Precigen from an “underweight” rating to a “neutral” rating in a research note on Friday, August 15th. Finally, Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Tuesday, August 19th.

Precigen Price Performance

PGEN stock opened at $4.14 on Friday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -9.86 and a beta of 1.61. The company has a fifty day moving average price of $3.87 and a 200 day moving average price of $2.44. Precigen has a 12 month low of $0.65 and a 12 month high of $5.22.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. As a group, analysts anticipate that Precigen will post -0.32 earnings per share for the current year.

Insider Activity at Precigen

In other news, Director Jeffrey B. Kindler sold 106,837 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $3.38, for a total transaction of $361,109.06. Following the transaction, the director directly owned 346,070 shares of the company’s stock, valued at $1,169,716.60. This represents a 23.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Harry Jr. Thomasian purchased 8,284 shares of the stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of $3.62 per share, for a total transaction of $29,988.08. Following the completion of the purchase, the chief financial officer owned 465,694 shares in the company, valued at approximately $1,685,812.28. This trade represents a 1.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 54,221 shares of company stock valued at $214,467 and sold 6,984,279 shares valued at $25,428,688. 47.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Precigen

A number of institutional investors and hedge funds have recently made changes to their positions in PGEN. Strs Ohio boosted its position in shares of Precigen by 6.8% in the 3rd quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after buying an additional 3,200 shares in the last quarter. Rhumbline Advisers grew its stake in Precigen by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 198,078 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 7,041 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 9,043 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Precigen in the 3rd quarter valued at about $48,000. Finally, Invesco Ltd. grew its stake in Precigen by 43.7% in the 2nd quarter. Invesco Ltd. now owns 62,955 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 19,149 shares during 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.