Precigen, Inc. (NASDAQ:PGEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $10.00.

PGEN has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Precigen in a report on Wednesday, May 15th. StockNews.com upgraded shares of Precigen to a “sell” rating in a report on Tuesday, May 21st. Stifel Nicolaus raised their price target on shares of Precigen from $7.00 to $10.00 and gave the company a “buy” rating in a report on Monday, June 3rd. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Precigen in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. cut shares of Precigen from a “neutral” rating to an “underweight” rating in a report on Friday, March 22nd.

Precigen Stock Up 9.2 %

Shares of NASDAQ:PGEN opened at $1.55 on Thursday. The firm has a 50 day moving average of $1.48 and a 200 day moving average of $1.44. The company has a market capitalization of $391.25 million, a price-to-earnings ratio of -3.97 and a beta of 1.73. Precigen has a 52 week low of $0.84 and a 52 week high of $1.88.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $1.07 million during the quarter, compared to the consensus estimate 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 firm posted ($0.10) earnings per share. On average, sell-side analysts expect that Precigen will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently modified their holdings of PGEN. Patient Capital Management LLC raised its position in shares of Precigen by 16.2% in the 4th quarter. Patient Capital Management LLC now owns 15,983,700 shares of the biotechnology company’s stock valued at $21,418,000 after purchasing an additional 2,230,524 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in Precigen during the 1st quarter worth approximately $1,022,000. Panagora Asset Management Inc. purchased a new position in shares of Precigen during the 4th quarter valued at approximately $407,000. Cetera Advisors LLC purchased a new position in shares of Precigen during the 1st quarter valued at approximately $367,000. Finally, Emfo LLC increased its holdings in shares of Precigen by 22.2% during the 4th quarter. Emfo LLC now owns 519,475 shares of the biotechnology company’s stock valued at $696,000 after purchasing an additional 94,475 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.