Precigen (NASDAQ:PGEN) CEO Helen Sabzevari Sells 119,250 Shares

Precigen, Inc. (NASDAQ:PGEN) CEO Helen Sabzevari sold 119,250 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $519,930.00. Following the completion of the sale, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at $16,432,281.92. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Down 5.1%

NASDAQ:PGEN opened at $4.12 on Tuesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.49 and a beta of 1.06. Precigen, Inc. has a one year low of $1.28 and a one year high of $5.47. The business has a fifty day moving average price of $4.04 and a 200-day moving average price of $4.10.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million during the quarter, compared to analyst estimates 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 forecast that Precigen, Inc. will post 0.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Precigen by 141.1% during the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after purchasing an additional 6,335,033 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Precigen by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after purchasing an additional 613,340 shares during the last quarter. Occam Crest Management LP boosted its holdings in shares of Precigen by 29.6% during the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after purchasing an additional 799,339 shares during the last quarter. SymBiosis Capital Partners LLC bought a new position in shares of Precigen during the 4th quarter valued at about $12,540,000. Finally, Bank of America Corp DE boosted its holdings in shares of Precigen by 201.1% during the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 1,673,731 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PGEN. HC Wainwright upped their price objective on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a research note on Sunday. Citizens Jmp increased their price target on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Finally, Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

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.