Precigen, Inc. (NASDAQ:PGEN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.50.

A number of brokerages recently weighed in on PGEN. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Citizens Jmp upped their target price on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th.

Precigen Stock Performance

Shares of PGEN opened at $7.10 on Friday. The business’s fifty day moving average price is $6.20 and its 200 day moving average price is $4.83. Precigen has a 12-month low of $2.99 and a 12-month high of $7.72. The stock has a market capitalization of $2.53 billion, a PE ratio of -6.83 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. The business’s quarterly revenue was up 6322.7% on a year-over-year basis. Equities research analysts forecast that Precigen will post 0.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 185,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the completion of the transaction, the director owned 17,100 shares in the company, valued at approximately $127,224. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harry Thomasian, Jr. sold 171,429 shares of Precigen stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $5.53, for a total transaction of $948,002.37. Following the completion of the sale, the chief financial officer owned 354,535 shares in the company, valued at approximately $1,960,578.55. This represents a 32.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 991,271 shares of company stock valued at $6,208,620 in the last 90 days. Corporate insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently made changes to their positions in PGEN. State of Wyoming acquired a new stake in shares of Precigen in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Precigen during the 3rd quarter worth about $39,000. Royal Bank of Canada increased its holdings in shares of Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 5,426 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Precigen in the third quarter worth approximately $41,000. Finally, Mason Investment Advisory Services Inc. purchased a new stake in shares of Precigen in the fourth quarter worth approximately $42,000. 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.