Precigen (NASDAQ:PGEN) Price Target Raised to $9.00

Precigen (NASDAQ:PGEN) had its price target increased by HC Wainwright from $8.50 to $9.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on PGEN. JMP Securities raised their price target on Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, August 19th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Tuesday, August 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Precigen Price Performance

NASDAQ PGEN opened at $4.85 on Friday. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22. Precigen has a 12 month low of $0.65 and a 12 month high of $5.22. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -3.49 and a beta of 1.71. The company’s 50 day moving average is $3.79 and its two-hundred day moving average is $2.63.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.The firm had revenue of $2.92 million during the quarter, compared to analysts’ expectations of $0.67 million. As a group, research analysts anticipate that Precigen will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 value of $361,109.06. Following the completion of the sale, the director owned 346,070 shares of the company’s stock, valued at approximately $1,169,716.60. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harry Jr. Thomasian acquired 8,284 shares of the stock in a transaction on 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 purchase, the chief financial officer directly owned 465,694 shares of the company’s stock, valued at $1,685,812.28. The trade was a 1.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 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 Investors Weigh In On Precigen

A number of hedge funds have recently modified their holdings of PGEN. Russell Investments Group Ltd. acquired a new stake in Precigen during the third quarter worth about $41,000. Vontobel Holding Ltd. purchased a new stake in shares of Precigen in the 3rd quarter valued at approximately $48,000. Voya Investment Management LLC increased its holdings in shares of Precigen by 142.9% during the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock worth $55,000 after buying an additional 21,633 shares during the last quarter. Flower City Capital purchased a new stake in shares of Precigen during the 3rd quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets lifted its holdings in Precigen by 134.7% in the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 28,005 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.