Precigen (NASDAQ:PGEN – Get Free Report)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research note issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the biotechnology company’s stock. JMP Securities’ price objective would indicate a potential upside of 294.74% from the stock’s current price.
A number of other brokerages have also commented on PGEN. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Precigen in a report on Thursday, May 15th.
Check Out Our Latest Stock Report on Precigen
Precigen Stock Performance
Precigen (NASDAQ:PGEN – Get Free Report) last posted its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $1.34 million for the quarter, compared to analyst estimates of $0.50 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. On average, analysts predict that Precigen will post -0.32 earnings per share for the current year.
Hedge Funds Weigh In On Precigen
A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Precigen by 7.3% in the 4th quarter. Rhumbline Advisers now owns 197,134 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 13,338 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Precigen by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company’s stock worth $3,696,000 after purchasing an additional 53,343 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Precigen by 27.9% in the 4th quarter. SG Americas Securities LLC now owns 57,641 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 12,578 shares during the last quarter. Barclays PLC increased its position in shares of Precigen by 28.3% in the 4th quarter. Barclays PLC now owns 242,899 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 53,546 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Precigen by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock worth $1,432,000 after purchasing an additional 56,012 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.
About Precigen
Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.
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