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

Shares of Precigen, Inc. (NASDAQ:PGEN) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

Several research analysts have recently weighed in on PGEN shares. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Citizens Jmp raised their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. Wall Street Zen raised Precigen from a “sell” rating to a “hold” rating in a report on Saturday. Finally, HC Wainwright upped their price target on Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PGEN. Patient Capital Management LLC raised its stake in Precigen by 62.6% during the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock worth $87,056,000 after acquiring an additional 10,192,107 shares during the period. State Street Corp boosted its position in shares of Precigen by 141.1% in the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after purchasing an additional 6,335,033 shares during the period. SymBiosis Capital Partners LLC purchased a new stake in shares of Precigen in the fourth quarter worth $12,540,000. Bank of America Corp DE increased its stake in shares of 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 worth $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Precigen by 196.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock valued at $9,087,000 after purchasing an additional 1,440,446 shares during the period. 33.51% of the stock is currently owned by institutional investors.

Precigen Price Performance

Shares of NASDAQ:PGEN opened at $3.87 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46. The stock has a market capitalization of $1.37 billion, a PE ratio of -2.89 and a beta of 1.10. The firm’s 50 day moving average price is $4.05 and its 200-day moving average price is $3.97. Precigen has a twelve month low of $1.11 and a twelve month high of $5.47.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The company had revenue of $4.57 million during the quarter, compared to analyst estimates of $8.29 million. Equities research analysts expect that Precigen will post -0.32 EPS for the current year.

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.