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

Precigen, Inc. (NASDAQ:PGEN) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.50.

Several research firms recently issued reports on PGEN. HC Wainwright increased their price target on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Finally, Citizens Jmp raised their target price on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th.

Precigen Stock Performance

Shares of PGEN stock opened at $5.53 on Friday. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. Precigen has a fifty-two week low of $1.47 and a fifty-two week high of $6.04. The stock’s 50-day moving average is $4.61 and its two-hundred day moving average is $4.29. The firm has a market cap of $1.97 billion, a P/E ratio of -4.69 and a beta of 1.00.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to analysts’ expectations 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 -0.02 earnings per share for the current fiscal year.

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 346,836 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the transaction, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at $22,198,656.08. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 42,924 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.85, for a total value of $251,105.40. Following the completion of the transaction, the chief operating officer directly owned 497,751 shares in the company, valued at $2,911,843.35. The trade was a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 822,728 shares of company stock valued at $4,422,853 over the last ninety days. Company insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake 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 worth $45,248,000 after purchasing an additional 6,335,033 shares during the last quarter. SymBiosis Capital Partners LLC acquired a new stake in Precigen in the 4th quarter valued at about $12,540,000. Bank of America Corp DE lifted its stake in Precigen by 201.1% in 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. Goldman Sachs Group Inc. grew its holdings in Precigen by 196.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after purchasing an additional 1,440,446 shares during the period. Finally, Boxer Capital Management LLC bought a new position in Precigen during the third quarter worth about $2,796,000. 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.