StockNews.com Upgrades Precigen (NASDAQ:PGEN) to “Sell”

Precigen (NASDAQ:PGEN) was upgraded by equities researchers at StockNews.com to a “sell” rating in a report released on Tuesday.

A number of other brokerages have also issued reports on PGEN. Cantor Fitzgerald restated an “overweight” rating on shares of Precigen in a research note on Wednesday, May 15th. JPMorgan Chase & Co. downgraded Precigen from a “neutral” rating to an “underweight” rating in a report on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and issued a $14.00 price target on shares of Precigen in a report on Wednesday, March 20th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Precigen in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Precigen in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Precigen Stock Down 0.7 %

PGEN stock opened at $1.38 on Tuesday. The stock’s 50 day moving average is $1.40 and its two-hundred day moving average is $1.35. Precigen has a 52-week low of $0.84 and a 52-week high of $1.88. The company has a market capitalization of $348.34 million, a PE ratio of -3.54 and a beta of 1.77.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.54 million. Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. During the same period in the previous year, the business posted ($0.10) EPS. As a group, sell-side analysts anticipate that Precigen will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC acquired a new stake in Precigen in the first quarter worth $28,000. Fisher Asset Management LLC acquired a new stake in shares of Precigen in the 4th quarter worth about $29,000. EntryPoint Capital LLC bought a new stake in Precigen in the 1st quarter valued at about $31,000. China Universal Asset Management Co. Ltd. boosted its stake in Precigen by 338.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,788 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 22,227 shares during the period. Finally, Diversified Trust Co bought a new position in Precigen in the 4th quarter worth about $39,000. 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.