Rutul Shah Sells 42,703 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,703 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $186,185.08. Following the completion of the transaction, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at approximately $2,170,194.36. This represents a 7.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Price Performance

PGEN stock traded down $0.22 during midday trading on Monday, reaching $4.12. The stock had a trading volume of 4,830,773 shares, compared to its average volume of 4,257,618. Precigen, Inc. has a 52-week low of $1.28 and a 52-week high of $5.47. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The company’s fifty day simple moving average is $4.02 and its 200 day simple moving average is $4.09. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -3.49 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during 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%. As a group, sell-side analysts predict that Precigen, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after buying an additional 6,335,033 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Precigen by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock worth $18,653,000 after acquiring an additional 613,340 shares during the last quarter. Occam Crest Management LP lifted its holdings in shares of Precigen by 29.6% in the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after acquiring an additional 799,339 shares during the last quarter. SymBiosis Capital Partners LLC purchased a new position in shares of Precigen during the 4th quarter worth approximately $12,540,000. Finally, Bank of America Corp DE boosted its position in shares of Precigen by 201.1% during the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after purchasing an additional 1,673,731 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a research report on Sunday. Citizens Jmp increased their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Precigen presently has an average rating of “Hold” and an average target price of $12.50.

About Precigen

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.