Precigen, Inc. (NASDAQ:PGEN) Receives Average Recommendation of “Hold” from Brokerages

Precigen, Inc. (NASDAQ:PGEN) has been assigned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $8.50.

Several research analysts recently issued reports on PGEN shares. HC Wainwright increased their price objective on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Zacks Research cut Precigen from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Wall Street Zen lowered Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd.

Insider Activity at Precigen

In other news, Director Randal J. Kirk sold 1,900,036 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the sale, the director owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. This represents a 84.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 4,866,329 shares of company stock valued at $20,233,899. Insiders own 47.10% of the company’s stock.

Hedge Funds Weigh In On Precigen

A number of large investors have recently bought and sold shares of the business. Patient Capital Management LLC boosted its holdings in shares of Precigen by 62.6% in the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after buying an additional 10,192,107 shares in the last quarter. Diametric Capital LP purchased a new stake in Precigen during the second quarter valued at approximately $476,000. Inspire Investing LLC boosted its stake in Precigen by 17.3% in the second quarter. Inspire Investing LLC now owns 275,870 shares of the biotechnology company’s stock valued at $392,000 after acquiring an additional 40,758 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Precigen in the third quarter worth $48,000. Finally, Flower City Capital acquired a new position in shares of Precigen during the third quarter worth $66,000. Institutional investors own 33.51% of the company’s stock.

Precigen Trading Up 6.3%

PGEN stock opened at $4.56 on Tuesday. Precigen has a 12 month low of $1.11 and a 12 month high of $5.22. The firm’s 50-day moving average is $4.24 and its 200 day moving average is $3.78. The company has a market capitalization of $1.61 billion, a PE ratio of -3.28 and a beta of 1.06. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95.

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

Precigen Company Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.