Precigen (NASDAQ:PGEN) Stock Rating Upgraded by Wall Street Zen

Precigen (NASDAQ:PGEN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Citizens Jmp raised their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. HC Wainwright raised their price objective on shares of Precigen from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Finally, Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Three 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.

Precigen Stock Down 0.9%

NASDAQ:PGEN opened at $4.24 on Friday. The firm has a market cap of $1.51 billion, a P/E ratio of -3.59 and a beta of 1.07. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. Precigen has a fifty-two week low of $1.28 and a fifty-two week high of $5.47. The firm has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $4.08.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to analyst estimates of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. Analysts predict that Precigen will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Precigen

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

Institutional Trading of Precigen

Large investors have recently made changes to their positions in the stock. Lansing Street Advisors bought a new stake in shares of Precigen in the third quarter worth approximately $1,800,000. Boxer Capital Management LLC bought a new stake in shares of Precigen in the third quarter worth approximately $2,796,000. Rhumbline Advisers grew its stake in shares of Precigen by 8.9% in the third quarter. Rhumbline Advisers now owns 215,769 shares of the biotechnology company’s stock worth $710,000 after acquiring an additional 17,691 shares during the period. Profund Advisors LLC bought a new stake in shares of Precigen in the third quarter worth approximately $79,000. Finally, Strs Ohio grew its stake in shares of Precigen by 6.8% in the third quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 3,200 shares during the period. 33.51% of the stock is currently owned by institutional investors.

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.