Precigen (NASDAQ:PGEN) Trading Down 3.6% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) fell 3.6% during trading on Friday . The stock traded as low as $7.13 and last traded at $7.17. Approximately 1,029,945 shares changed hands during trading, a decline of 78% from the average daily volume of 4,669,477 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citizens Jmp increased their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. HC Wainwright lifted their price objective on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Precigen Stock Performance

The company has a market cap of $2.56 billion, a P/E ratio of -6.91 and a beta of 1.02. The stock has a 50 day moving average price of $5.75 and a two-hundred day moving average price of $4.64. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15.

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

Insider Transactions at Precigen

In other news, COO Rutul R. Shah sold 32,739 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $6.86, for a total value of $224,589.54. Following the completion of the sale, the chief operating officer owned 465,012 shares of the company’s stock, valued at approximately $3,189,982.32. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald P. Lehr sold 29,131 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $127,011.16. Following the transaction, the insider directly owned 755,461 shares in the company, valued at approximately $3,293,809.96. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 989,239 shares of company stock worth $5,472,960 over the last ninety days. Corporate insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of hedge funds and other institutional investors have recently made changes to their positions in PGEN. Xponance LLC boosted its holdings in shares of Precigen by 21.3% in the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Precigen by 6.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after buying an additional 2,993 shares in the last quarter. Composition Wealth LLC lifted its position in shares of Precigen by 16.5% during the 4th quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after buying an additional 3,000 shares during the last quarter. Intech Investment Management LLC boosted its stake in Precigen by 5.2% in the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 3,137 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in 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 acquiring an additional 3,250 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

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.