Precigen (NASDAQ:PGEN) Stock Price Up 28.9% on Analyst Upgrade

Precigen, Inc. (NASDAQ:PGEN) traded up 28.9% during trading on Friday after HC Wainwright raised their price target on the stock from $8.50 to $9.00. HC Wainwright currently has a buy rating on the stock. Precigen traded as high as $4.93 and last traded at $4.9750. 4,636,751 shares were traded during mid-day trading, an increase of 11% from the average session volume of 4,191,926 shares. The stock had previously closed at $3.86.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Wednesday, October 8th. JMP Securities lifted their price objective on shares of Precigen from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 19th. Citigroup reissued an “outperform” rating on shares of Precigen in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised shares of Precigen from an “underweight” rating to a “neutral” rating in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Precigen has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Insider Activity

In other news, Director Nancy H. Agee purchased 15,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was bought at an average price of $4.60 per share, with a total value of $69,000.00. Following the acquisition, the director owned 217,841 shares in the company, valued at approximately $1,002,068.60. The trade was a 7.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey B. Kindler sold 106,837 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $3.38, for a total transaction of $361,109.06. Following the sale, the director owned 346,070 shares in the company, valued at $1,169,716.60. This represents a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have bought 54,221 shares of company stock valued at $214,467 and have sold 6,984,279 shares valued at $25,428,688. Corporate insiders own 47.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Precigen by 6.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 2,993 shares in the last quarter. Strs Ohio raised its holdings in shares of Precigen by 6.8% during 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 lifted its position in shares of Precigen by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 198,078 shares of the biotechnology company’s stock worth $281,000 after buying an additional 7,041 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Precigen by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after buying an additional 9,043 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Precigen by 59.6% in the third quarter. Raymond James Financial Inc. now owns 28,169 shares of the biotechnology company’s stock valued at $93,000 after buying an additional 10,520 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Price Performance

The stock has a 50-day simple moving average of $3.79 and a 200-day simple moving average of $2.61. The stock has a market cap of $1.45 billion, a P/E ratio of -3.49 and a beta of 1.71.

Precigen (NASDAQ:PGEN) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Precigen had a negative return on equity of 1,916.36% and a negative net margin of 3,912.92%.The company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. As a group, sell-side analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current year.

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.