Precigen (NASDAQ:PGEN) Trading Down 6.1% – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) dropped 6.1% during trading on Monday . The company traded as low as $4.18 and last traded at $4.0180. Approximately 373,830 shares changed hands during trading, a decline of 75% from the average daily volume of 1,511,070 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

PGEN has been the subject of a number of recent analyst reports. Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Finally, HC Wainwright raised their price objective on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.50.

Precigen Price Performance

The company has a market capitalization of $1.47 billion, a PE ratio of -2.97 and a beta of 1.10. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22. The stock has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $3.26.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.The company had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Equities analysts anticipate that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the sale, the director directly owned 341,189 shares in the company, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,866,329 shares of company stock worth $20,233,899 over the last quarter. Corporate insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC acquired a new position in shares of Precigen in the first quarter valued at approximately $124,000. AQR Capital Management LLC lifted its holdings in shares of Precigen by 216.9% during the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 9,043 shares during the last quarter. Strs Ohio purchased a new stake in Precigen in the first quarter valued at approximately $70,000. Finally, Inspire Investing LLC purchased a new stake in Precigen in the first quarter valued at approximately $350,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.