KBC Group NV Makes New Investment in Precigen, Inc. $PGEN

KBC Group NV bought a new stake in shares of Precigen, Inc. (NASDAQ:PGEN) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 345,805 shares of the biotechnology company’s stock, valued at approximately $1,338,000.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC acquired a new stake in Precigen in the first quarter valued at $43,000. Y Intercept Hong Kong Ltd bought a new position in Precigen during the 1st quarter valued at $49,000. Inspire Investing LLC grew its holdings in Precigen by 23.3% during the 1st quarter. Inspire Investing LLC now owns 136,122 shares of the biotechnology company’s stock worth $527,000 after acquiring an additional 25,725 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Precigen by 78.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 35,891 shares of the biotechnology company’s stock worth $139,000 after acquiring an additional 15,748 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Precigen in the 1st quarter worth about $60,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insider Buying and Selling

In other news, CFO Harry Jr. Thomasian sold 171,429 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the completion of the transaction, the chief financial officer directly owned 354,535 shares of the company’s stock, valued at approximately $1,960,578.55. This represents a 32.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 42,924 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the sale, the chief operating officer owned 497,751 shares in the company, valued at $2,911,843.35. The trade was a 7.94% 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. In the last ninety days, insiders have sold 822,728 shares of company stock valued at $4,422,853. 41.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PGEN shares. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Citizens Jmp boosted their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. HC Wainwright upped their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.50.

Precigen Trading Down 2.5%

Precigen stock opened at $5.40 on Friday. Precigen, Inc. has a 1 year low of $1.54 and a 1 year high of $6.04. The firm’s 50-day moving average is $4.83 and its 200-day moving average is $4.37. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The company has a market cap of $1.93 billion, a P/E ratio of -4.58 and a beta of 1.00.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. On average, equities analysts expect that Precigen, Inc. will post -0.02 earnings per share for the current year.

Precigen 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.