Precigen (NASDAQ:PGEN) Shares Up 11.2% – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN) rose 11.2% during trading on Tuesday . The company traded as high as $3.55 and last traded at $3.6150. Approximately 2,138,265 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 4,538,606 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PGEN shares. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Citizens Jmp lifted their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, HC Wainwright upped their target price on Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, two have 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 “Hold” and an average target price of $9.50.

Precigen Stock Performance

The stock has a market cap of $1.39 billion, a PE ratio of -2.93 and a beta of 1.12. The firm’s 50-day moving average is $4.04 and its 200 day moving average is $3.97. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The company had revenue of $4.57 million for the quarter, compared to the consensus estimate of $8.29 million. As a group, research analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Precigen

Institutional investors have recently added to or reduced their stakes in the stock. Lansing Street Advisors purchased a new position in shares of Precigen in the 3rd quarter valued at approximately $1,800,000. Patient Capital Management LLC increased its holdings in shares of Precigen by 62.6% in the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after purchasing an additional 10,192,107 shares during the period. Diametric Capital LP purchased a new stake in shares of Precigen during the second quarter worth approximately $476,000. Boxer Capital Management LLC acquired a new stake in shares of Precigen during the third quarter worth $2,796,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Precigen during the fourth quarter worth $84,000. Institutional investors and hedge funds 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.