Analysts Set Precigen, Inc. (NASDAQ:PGEN) Target Price at $8.25

Precigen, Inc. (NASDAQ:PGEN) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.25.

PGEN has been the topic of several recent analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised Precigen from an “underweight” rating to a “neutral” rating in a research note on Friday, August 15th. JMP Securities boosted their price target on Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of Precigen in a research note on Tuesday, August 19th.

Insider Buying and Selling

In related news, CFO Harry Jr. Thomasian purchased 8,284 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were acquired at an average price of $3.62 per share, with a total value of $29,988.08. Following the purchase, the chief financial officer directly owned 465,694 shares in the company, valued at $1,685,812.28. This represents a 1.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nancy H. Agee acquired 15,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was acquired at an average price of $4.60 per share, with a total value of $69,000.00. Following the transaction, the director owned 217,841 shares in the company, valued at approximately $1,002,068.60. The trade was a 7.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 54,221 shares of company stock worth $214,467 and sold 6,984,279 shares worth $25,428,688. 47.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Precigen

Several institutional investors have recently bought and sold shares of PGEN. Patient Capital Management LLC raised its position in Precigen by 62.6% in the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after purchasing an additional 10,192,107 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Precigen during the first quarter valued at $4,755,000. Bank of America Corp DE lifted its stake in shares of Precigen by 258.2% during the second quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock valued at $1,182,000 after acquiring an additional 599,914 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Precigen by 3.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock valued at $16,801,000 after acquiring an additional 410,595 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Precigen during the second quarter valued at $524,000. Institutional investors own 33.51% of the company’s stock.

Precigen Trading Down 6.7%

Shares of NASDAQ:PGEN opened at $3.88 on Friday. Precigen has a 1-year low of $0.65 and a 1-year high of $5.22. The firm has a market capitalization of $1.16 billion, a PE ratio of -9.24 and a beta of 1.71. The business’s 50 day moving average is $3.87 and its 200-day moving average is $2.48.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%.The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.67 million. On average, sell-side analysts predict that Precigen will post -0.32 EPS for the current year.

Precigen Company Profile

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.