Precigen, Inc. (NASDAQ:PGEN) Receives $8.50 Consensus Target Price from Analysts

Precigen, Inc. (NASDAQ:PGEN) has been given a consensus rating of “Hold” by the seven analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.50.

A number of equities research analysts have issued reports on PGEN shares. HC Wainwright boosted their price target on Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Zacks Research cut shares of Precigen from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the transaction, the director owned 341,189 shares in the company, valued at $1,426,170.02. The trade was a 84.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 47.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of PGEN. Investment Insight Wealth Management LLC acquired a new stake in Precigen in the fourth quarter valued at approximately $443,000. Invesco Ltd. lifted its position in shares of Precigen by 250.8% during the fourth quarter. Invesco Ltd. now owns 373,782 shares of the biotechnology company’s stock worth $1,562,000 after purchasing an additional 267,223 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Precigen in the fourth quarter valued at $45,000. XTX Topco Ltd boosted its stake in shares of Precigen by 25.2% in the fourth quarter. XTX Topco Ltd now owns 49,668 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 10,005 shares during the period. Finally, VARCOV Co. acquired a new stake in Precigen during the 4th quarter valued at $224,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Stock Up 5.7%

Shares of PGEN opened at $3.51 on Friday. Precigen has a fifty-two week low of $1.11 and a fifty-two week high of $5.47. The company’s fifty day moving average is $4.35 and its two-hundred day moving average is $4.07. The firm has a market cap of $1.24 billion, a PE ratio of -2.53 and a beta of 1.10. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22.

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.