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

Precigen, Inc. (NASDAQ:PGEN) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

PGEN has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Precigen from an “underweight” rating to a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. JMP Securities boosted their target price on shares of Precigen from $6.00 to $8.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 19th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a report on Tuesday, August 19th. Finally, Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

Insider Activity

In other 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 sale, the director directly owned 346,070 shares in the company, valued at approximately $1,169,716.60. This represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Randal J. Kirk sold 937,308 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $3.83, for a total transaction of $3,589,889.64. Following the completion of the transaction, the director directly owned 5,554,244 shares in the company, valued at $21,272,754.52. This represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 28,216 shares of company stock valued at $115,816 and sold 9,950,572 shares valued at $37,720,437. 47.10% of the stock is owned by company insiders.

Institutional Trading of Precigen

A number of hedge funds have recently bought and sold shares of the stock. Patient Capital Management LLC lifted its position in Precigen by 62.6% during the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after acquiring an additional 10,192,107 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Precigen during the first quarter worth $4,755,000. Bank of America Corp DE boosted its position in shares of Precigen by 201.1% in the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Precigen in the 3rd quarter worth $2,796,000. Finally, Franklin Resources Inc. grew its stake in Precigen by 1,895.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,178 shares of the biotechnology company’s stock worth $2,195,000 after buying an additional 633,743 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Price Performance

NASDAQ PGEN opened at $3.74 on Thursday. Precigen has a 12 month low of $0.65 and a 12 month high of $5.22. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.69 and a beta of 1.71. The company’s 50 day moving average is $3.82 and its two-hundred day moving average is $2.77. 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 (NASDAQ:PGEN) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. The business 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.

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.