Precigen, Inc. (NASDAQ:PGEN) Stock Has Average Target Price of $13.50 According to Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.50.

PGEN has been the subject of several research reports. HC Wainwright upped their price target on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. B. Riley Financial initiated coverage on shares of Precigen in a report on Friday, September 25th. They issued a “buy” rating and a $12.00 price objective on the stock. Citizens Jmp boosted their target price on shares of Precigen from $11.00 to $12.00 and gave the company a “market outperform” rating in a research report on Thursday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Precigen in a report on Thursday, November 5th. Finally, Zacks Research cut shares of Precigen from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th.

Precigen Stock Up 4.4%

Precigen stock opened at $4.72 on Thursday. Precigen has a one year low of $3.04 and a one year high of $8.98. The stock has a fifty day moving average of $6.84 and a 200 day moving average of $5.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 4.83 and a current ratio of 5.58. The stock has a market cap of $1.69 billion, a PE ratio of 47.20 and a beta of 1.01.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, November 4th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $74.15 million for the quarter, compared to analysts’ expectations of $71.55 million. Precigen had a return on equity of 57.93% and a net margin of 15.55%. The business’s revenue for the quarter was up 2437.6% on a year-over-year basis. During the same period last year, the firm posted ($1.06) earnings per share. As a group, sell-side analysts predict that Precigen will post 0.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey Kindler sold 185,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total value of $1,376,400.00. Following the completion of the sale, the director directly owned 17,100 shares of the company’s stock, valued at $127,224. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Rutul Shah sold 34,658 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $7.50, for a total transaction of $259,935.00. Following the sale, the chief operating officer owned 465,012 shares in the company, valued at $3,487,590. The trade was a 6.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 235,000 shares of company stock valued at $1,751,400. Company insiders own 41.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in Precigen by 5.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 52,532 shares of the biotechnology company’s stock worth $450,000 after buying an additional 2,909 shares in the last quarter. Cetera Investment Advisers lifted 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 worth $1,449,000 after buying an additional 3,250 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Precigen by 10.6% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,000 shares of the biotechnology company’s stock worth $377,000 after buying an additional 4,200 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Precigen by 10.5% during the second quarter. Arizona State Retirement System now owns 53,713 shares of the biotechnology company’s stock worth $306,000 after acquiring an additional 5,086 shares during the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Precigen during the third quarter worth $46,000. Institutional investors own 33.51% of the company’s stock.

Precigen Company Profile

Precigen, Inc. is a biotechnology company focused on developing gene and cell therapies, including engineered immunotherapies. The company is based in Germantown, Maryland, and its roots include Intrexon, which adopted the Precigen name in 2020. Its approved product, PAPZIMEOS (zopapogene imadenovec-drba), is a gene therapy for adults with recurrent respiratory papillomatosis, a rare condition associated with human papillomavirus types 6 and 11. Precigen is also developing investigational therapies for cancers and other diseases.