Precigen (NASDAQ:PGEN) Director Randal Kirk Sells 4,772,781 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 4,772,781 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the sale, the director owned 302,213 shares of the company’s stock, valued at $997,302.90. This trade represents a 94.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Precigen Stock Performance

Shares of PGEN stock opened at $3.94 on Friday. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -2.94 and a beta of 1.12. Precigen, Inc. has a 52 week low of $1.11 and a 52 week high of $5.47. The firm’s 50-day simple moving average is $4.02 and its two-hundred day simple moving average is $3.97.

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

Institutional Trading of Precigen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in Precigen in the 4th quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Precigen during the 3rd quarter valued at about $39,000. Russell Investments Group Ltd. bought a new stake in shares of Precigen during the third quarter valued at about $41,000. Mason Investment Advisory Services Inc. bought a new stake in shares of Precigen during the fourth quarter valued at about $42,000. Finally, Abel Hall LLC purchased a new stake in shares of Precigen in the fourth quarter worth about $44,000. 33.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PGEN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. HC Wainwright boosted their price objective on Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Citizens Jmp increased their target price on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. Finally, Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.50.

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.