Precigen, Inc. (NASDAQ:PGEN) Receives Consensus Rating of “Hold” from Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.00.

PGEN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. HC Wainwright increased their price objective on Precigen from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Insiders Place Their Bets

In related news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the completion of the sale, the director owned 302,213 shares in the company, valued at $997,302.90. This represents a 94.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 47.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares during the period. The Manufacturers Life Insurance Company lifted its position in Precigen by 61.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,143 shares of the biotechnology company’s stock worth $349,000 after acquiring an additional 34,137 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Precigen in the 1st quarter valued at approximately $1,531,000. State of Wyoming purchased a new position in shares of Precigen in the 1st quarter valued at approximately $27,000. Finally, Cetera Investment Advisers increased its holdings in shares of Precigen by 0.9% in the first quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock valued at $1,449,000 after purchasing an additional 3,250 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Stock Performance

Shares of PGEN opened at $4.27 on Thursday. Precigen has a 1 year low of $1.28 and a 1 year high of $5.47. The stock has a market capitalization of $1.52 billion, a PE ratio of -3.62 and a beta of 1.07. 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 50-day simple moving average of $3.90 and a 200-day simple moving average of $4.08.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The firm had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. On average, analysts predict that Precigen will post 0.04 earnings per share for the current fiscal year.

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.