Analysts Set Precigen, Inc. (NASDAQ:PGEN) Price Target at $9.50

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

Several research analysts recently commented on the company. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp raised their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. Wall Street Zen raised Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. HC Wainwright raised their target price on Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd.

Precigen Stock Down 1.7%

Shares of PGEN stock opened at $4.12 on Wednesday. The stock has a market cap of $1.46 billion, a P/E ratio of -3.07 and a beta of 1.12. Precigen has a one year low of $1.12 and a one year high of $5.47. The stock has a fifty day moving average price of $3.98 and a 200 day moving average price of $3.98. The company has a debt-to-equity ratio of 4.46, a current ratio of 3.09 and a quick ratio of 2.83.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $4.57 million during the quarter, compared to analysts’ expectations of $8.29 million. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%. Analysts predict that Precigen will post -0.32 earnings per share for the current year.

Insider Activity

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of Precigen stock in a transaction on Monday, March 30th. The stock was sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the completion of the transaction, the director directly owned 302,213 shares of the company’s stock, valued at approximately $997,302.90. This trade represents a 94.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 47.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PGEN. Patient Capital Management LLC lifted its holdings in shares of Precigen by 62.6% during the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after acquiring an additional 10,192,107 shares during the period. State Street Corp lifted its holdings in shares of Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after acquiring an additional 6,335,033 shares during the period. SymBiosis Capital Partners LLC bought a new position in shares of Precigen during the fourth quarter valued at $12,540,000. Bank of America Corp DE lifted its holdings in shares of Precigen by 201.1% during the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after acquiring an additional 1,673,731 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Precigen by 196.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock valued at $9,087,000 after acquiring an additional 1,440,446 shares during the period. 33.51% of the stock is owned by institutional investors.

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.