Precigen, Inc. (NASDAQ:PGEN) Given Average Recommendation of “Hold” by Brokerages

Precigen, Inc. (NASDAQ:PGEN) has been given an average recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.50.

A number of brokerages recently commented on PGEN. Wall Street Zen cut shares of Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. HC Wainwright increased their price objective on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Citizens Jmp increased their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th.

Insider Transactions at Precigen

In related news, CEO Helen Sabzevari sold 119,250 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $519,930.00. Following the sale, the chief executive officer directly owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Rutul R. Shah sold 42,703 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $186,185.08. Following the completion of the sale, the chief operating officer directly owned 497,751 shares in the company, valued at approximately $2,170,194.36. The trade was a 7.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,005,749 shares of company stock worth $16,765,918 in the last 90 days. Insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 5,426 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 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 purchasing an additional 34,137 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Precigen during the 1st quarter worth about $1,531,000. State of Wyoming acquired a new stake in shares of Precigen during the 1st quarter worth about $27,000. Finally, Cetera Investment Advisers boosted its stake in shares of Precigen by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock worth $1,449,000 after purchasing an additional 3,250 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Stock Performance

NASDAQ:PGEN opened at $4.82 on Monday. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. Precigen has a fifty-two week low of $1.39 and a fifty-two week high of $5.47. The stock has a market cap of $1.72 billion, a PE ratio of -4.08 and a beta of 1.06. The firm’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $4.11.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. Analysts expect that Precigen will post -0.02 earnings per share for the current fiscal year.

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.