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

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $12.50.

A number of brokerages recently issued reports on PGEN. Citizens Jmp increased their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th.

Precigen Stock Performance

Shares of NASDAQ:PGEN opened at $4.45 on Monday. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The company’s 50-day moving average price is $4.12 and its 200 day moving average price is $4.07. The company has a market cap of $1.59 billion, a PE ratio of -3.77 and a beta of 1.06. Precigen has a fifty-two week low of $1.38 and a fifty-two week high of $5.47.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $23.25 million for 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%. Sell-side analysts anticipate that Precigen will post -0.02 earnings per share for the current year.

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 119,250 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were 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 directly owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the completion of the transaction, the director owned 302,213 shares of the company’s stock, valued at $997,302.90. This trade represents a 94.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,005,749 shares of company stock worth $16,765,918 in the last three months. Insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently modified their holdings of PGEN. Lansing Street Advisors bought a new stake in Precigen during the third quarter worth approximately $1,800,000. Boxer Capital Management LLC bought a new position in shares of Precigen in the third quarter valued at $2,796,000. UBS Group AG increased its holdings in shares of 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 in the last quarter. Impala Asset Management LLC acquired a new stake in shares of Precigen during the 4th quarter valued at $690,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Precigen during the 3rd quarter valued at $338,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

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.