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

Precigen, Inc. (NASDAQ:PGEN) has been assigned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $11.00.

A number of research firms recently weighed in on PGEN. Citizens Jmp increased their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Wall Street Zen upgraded Precigen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. HC Wainwright raised their price target on Precigen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th.

Precigen Stock Up 2.6%

Shares of NASDAQ:PGEN opened at $4.27 on Thursday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.62 and a beta of 1.07. Precigen has a 12-month low of $1.28 and a 12-month high of $5.47. The business has a 50-day moving average price of $3.90 and a 200 day moving average price of $4.08. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The company had revenue of $23.25 million during the quarter, compared to analyst estimates of $20.81 million. Sell-side analysts expect that Precigen will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of Precigen stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the transaction, the director directly owned 302,213 shares of the company’s stock, valued at $997,302.90. The trade was a 94.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 47.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PGEN. State of Wyoming purchased a new stake in Precigen during the 1st quarter worth approximately $27,000. NBC Securities Inc. acquired a new position in shares of Precigen in the fourth quarter worth $38,000. Mason Investment Advisory Services Inc. acquired a new position in shares of Precigen in the fourth quarter worth $42,000. Abel Hall LLC purchased a new stake in shares of Precigen during the fourth quarter worth $44,000. Finally, Royal Bank of Canada increased its position in shares of Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 5,426 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.