Insider Buying: Precigen (NASDAQ:PGEN) Director Buys $24,661.53 in Stock

Precigen, Inc. (NASDAQ:PGEN) Director Nancy Agee acquired 3,411 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was acquired at an average cost of $7.23 per share, for a total transaction of $24,661.53. Following the completion of the purchase, the director directly owned 309,187 shares in the company, valued at $2,235,422.01. This trade represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Precigen Trading Up 1.5%

PGEN stock traded up $0.11 during mid-day trading on Tuesday, reaching $7.28. The company’s stock had a trading volume of 5,831,975 shares, compared to its average volume of 4,691,108. Precigen, Inc. has a 12 month low of $2.99 and a 12 month high of $7.55. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The business’s 50 day moving average price is $5.86 and its 200 day moving average price is $4.67. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -7.00 and a beta of 1.02.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The company’s revenue for the quarter was up 6322.7% on a year-over-year basis. On average, equities research analysts predict that Precigen, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PGEN. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Citizens Jmp raised 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. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. HC Wainwright increased their price target on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently bought and sold shares of PGEN. Patient Capital Management LLC purchased a new stake in shares of Precigen in the second quarter valued at about $108,511,000. BlackRock Inc. purchased a new position in Precigen during the second quarter worth about $97,737,000. State Street Corp boosted its holdings 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 purchasing an additional 6,335,033 shares during the last quarter. Geode Capital Management LLC grew its position in 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 purchasing an additional 613,340 shares in the last quarter. Finally, Occam Crest Management LP grew 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 worth $14,637,000 after purchasing an additional 799,339 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.