Precigen (NASDAQ:PGEN) Shares Up 7.7% – Time to Buy?

Precigen, Inc. (NASDAQ:PGEN) was up 7.7% during mid-day trading on Monday . The company traded as high as $5.22 and last traded at $5.1920. Approximately 1,982,514 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,380,153 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Wall Street Zen downgraded shares of Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Citizens Jmp raised their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. HC Wainwright lifted their target price on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Stock Up 8.8%

The firm has a market capitalization of $1.87 billion, a P/E ratio of -4.46 and a beta of 1.06. The firm’s 50 day moving average is $4.19 and its two-hundred day moving average is $4.11. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million for 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%. Research analysts predict that Precigen, Inc. will post -0.02 EPS for the current year.

Insider Activity at Precigen

In related news, insider Donald P. Lehr sold 29,131 shares of Precigen stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $127,011.16. Following the completion of the transaction, the insider owned 755,461 shares in the company, valued at approximately $3,293,809.96. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Rutul R. Shah sold 42,703 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $186,185.08. Following the transaction, the chief operating officer directly owned 497,751 shares in the company, valued at approximately $2,170,194.36. This trade represents a 7.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,005,749 shares of company stock worth $16,765,918 over the last ninety days. Company insiders own 41.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PGEN. AQR Capital Management LLC raised its stake in Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 9,043 shares during the period. Strs Ohio acquired a new position in shares of Precigen in the first quarter valued at $70,000. Geode Capital Management LLC increased its holdings in shares of Precigen by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after purchasing an additional 269,580 shares during the last quarter. Finally, Creative Planning raised its position in shares of Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 52,901 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Company Profile

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.