Precigen (NASDAQ:PGEN) Upgraded at Zacks Research

Zacks Research upgraded shares of Precigen (NASDAQ:PGEN) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

PGEN has been the subject of a number of other reports. HC Wainwright upped their price objective on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. Four equities research 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, Precigen has an average rating of “Hold” and a consensus target price of $8.50.

Precigen Trading Down 4.1%

Shares of PGEN stock opened at $3.28 on Tuesday. Precigen has a 1-year low of $1.11 and a 1-year high of $5.47. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -2.36 and a beta of 1.10. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95. The stock has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $4.06.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the firm’s stock in a transaction on 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 approximately $1,426,170.02. This trade represents a 84.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of large investors have recently modified their holdings of PGEN. AQR Capital Management LLC raised its position in shares of Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 43,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 9,043 shares during the last quarter. Strs Ohio acquired a new position in Precigen during the first quarter worth about $70,000. Geode Capital Management LLC grew its stake in Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after acquiring an additional 269,580 shares in the last quarter. Finally, Creative Planning grew its stake in Precigen by 127.8% during the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 52,901 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.