Precigen (NASDAQ:PGEN) Downgraded by Wall Street Zen to Hold

Precigen (NASDAQ:PGEN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other analysts also recently weighed in on the company. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Citizens Jmp lifted their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Finally, HC Wainwright lifted their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.50.

Precigen Trading Down 3.8%

PGEN stock opened at $4.34 on Friday. Precigen has a fifty-two week low of $1.28 and a fifty-two week high of $5.47. The firm has a market cap of $1.55 billion, a PE ratio of -3.68 and a beta of 1.07. The firm has a fifty day moving average price of $4.02 and a 200 day moving average price of $4.09. 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 (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 the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. Sell-side analysts anticipate that Precigen will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Precigen

In other news, Director Randal J. Kirk sold 4,772,781 shares of the business’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 in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

Large investors have recently modified their holdings of the business. Lansing Street Advisors purchased a new stake in shares of Precigen during the third quarter worth about $1,800,000. Boxer Capital Management LLC purchased a new stake in Precigen in the third quarter valued at approximately $2,796,000. UBS Group AG boosted its position in Precigen by 41.4% in the fourth quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after buying an additional 260,824 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Precigen by 1,011.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,857 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 71,764 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in Precigen in the fourth quarter valued at approximately $38,000. 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.