Insider Selling: Precigen (NASDAQ:PGEN) CFO Sells $948,002.37 in Stock

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 171,429 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $5.53, for a total value of $948,002.37. Following the completion of the sale, the chief financial officer directly owned 354,535 shares of the company’s stock, valued at approximately $1,960,578.55. This represents a 32.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harry Jr. Thomasian also recently made the following trade(s):

• On Monday, June 29th, Harry Jr. Thomasian sold 28,571 shares of Precigen stock. The stock was sold at an average price of $5.78, for a total value of $165,140.38.
• On Thursday, May 28th, Harry Jr. Thomasian sold 41,884 shares of Precigen stock. The stock was sold at an average price of $4.36, for a total value of $182,614.24.

Precigen Stock Performance

Shares of NASDAQ PGEN traded down $0.45 during trading on Wednesday, reaching $5.25. The stock had a trading volume of 7,446,304 shares, compared to its average volume of 4,558,847. Precigen, Inc. has a one year low of $1.45 and a one year high of $6.04. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The stock has a market cap of $1.87 billion, a PE ratio of -4.45 and a beta of 1.06. The firm’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $4.21.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data 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 analysts’ expectations of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. On average, research analysts forecast that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently modified their holdings of PGEN. Boxer Capital Management LLC bought a new position in shares of Precigen during the third quarter worth about $2,796,000. Occam Crest Management LP lifted its position in Precigen by 29.6% in the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after purchasing an additional 799,339 shares during the last quarter. Investment Insight Wealth Management LLC bought a new stake in Precigen in the 4th quarter valued at about $443,000. UBS Group AG boosted its stake in Precigen by 41.4% during the 4th quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after purchasing an additional 260,824 shares during the period. Finally, Impala Asset Management LLC acquired a new position in Precigen during the 4th quarter valued at about $690,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PGEN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Citizens Jmp lifted their target price on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

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.