Precigen, Inc. (NASDAQ:PGEN) Given Average Rating of “Hold” by Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.50.

PGEN has been the subject of several recent analyst reports. Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Zacks Research lowered Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Finally, HC Wainwright boosted their price target on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th.

Precigen Stock Performance

Shares of Precigen stock opened at $3.32 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. The company has a market cap of $1.17 billion, a PE ratio of -2.39 and a beta of 1.10. The company has a 50 day moving average of $4.37 and a 200-day moving average of $4.06. Precigen has a 1-year low of $1.11 and a 1-year high of $5.47.

Insider Transactions at Precigen

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of Precigen stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.18, for a total value of $7,942,150.48. Following the transaction, the director owned 341,189 shares in the company, valued at $1,426,170.02. The trade was a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 47.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Precigen

A number of hedge funds have recently made changes to their positions in PGEN. Patient Capital Management LLC grew its holdings in shares of Precigen by 62.6% during 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 purchasing an additional 10,192,107 shares during the last quarter. State Street Corp lifted its stake in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after purchasing an additional 6,335,033 shares during the last quarter. SymBiosis Capital Partners LLC bought a new position in Precigen in the 4th quarter valued at approximately $12,540,000. Bank of America Corp DE boosted its position in Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after buying an additional 1,673,731 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Precigen by 196.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock valued at $9,087,000 after buying an additional 1,440,446 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

About Precigen

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.