Precigen (NASDAQ:PGEN) Shares Gap Up Following Insider Buying Activity

Precigen, Inc. (NASDAQ:PGEN)’s share price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $3.63, but opened at $3.88. Precigen shares last traded at $3.81, with a volume of 45,270 shares trading hands.

Specifically, major shareholder Trading S.A. Ares sold 4,584 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $6.29, for a total transaction of $28,833.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Randal J. Kirk purchased 206,004 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were bought at an average cost of $3.59 per share, for a total transaction of $739,554.36. The disclosure for this purchase can be found here. Insiders have sold a total of 574,681 shares of company stock worth $3,186,219 over the last three months. 42.70% of the stock is currently owned by insiders.

PGEN has been the topic of several recent research reports. JMP Securities reiterated a “buy” rating and issued a $13.00 price objective on shares of Precigen in a research note on Friday, November 5th. Zacks Investment Research cut shares of Precigen from a “buy” rating to a “hold” rating in a research note on Friday, November 12th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Precigen in a research note on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.58.

The company has a debt-to-equity ratio of 1.37, a quick ratio of 5.03 and a current ratio of 5.28. The business’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $5.69. The firm has a market capitalization of $837.29 million, a PE ratio of -7.11 and a beta of 2.28.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Monday, November 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Precigen had a negative net margin of 109.91% and a negative return on equity of 68.90%. Sell-side analysts expect that Precigen, Inc. will post -0.49 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its holdings in shares of Precigen by 134.7% in the second quarter. Meeder Asset Management Inc. now owns 6,885 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 3,951 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Precigen in the first quarter valued at $50,000. Valeo Financial Advisors LLC purchased a new position in shares of Precigen in the third quarter valued at $51,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Precigen in the third quarter valued at $56,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Precigen in the third quarter valued at $66,000. 68.97% of the stock is owned by hedge funds and other institutional investors.

About Precigen (NASDAQ:PGEN)

Precigen, Inc is a biotechnology company, which engages in the research and development of synthetic biology technologies. The firm focuses on programming biological systems to alleviate disease, remediate environmental challenges, and provide sustainable food and industrial chemicals. It operates through the following segments: PGEN Therapeutics, ActoBio, Trans Ova and Human Biotherapeutics.

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