Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 33,772 Shares

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 33,772 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $6.50, for a total transaction of $219,518.00. Following the transaction, the chief operating officer directly owned 497,751 shares in the company, valued at approximately $3,235,381.50. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Price Performance

Shares of NASDAQ PGEN traded up $0.34 during trading on Monday, hitting $6.61. The company had a trading volume of 7,431,242 shares, compared to its average volume of 4,481,054. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.60 and a beta of 1.02. The stock has a fifty day simple moving average of $4.98 and a two-hundred day simple moving average of $4.41. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. Precigen, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $6.70.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm 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, research analysts expect that Precigen, Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of Precigen

Large investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Precigen by 141.1% in the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Precigen by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock worth $18,653,000 after purchasing an additional 613,340 shares during the last quarter. Occam Crest Management LP grew its position in shares of Precigen by 29.6% in the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after purchasing an additional 799,339 shares in the last quarter. SymBiosis Capital Partners LLC purchased a new stake in shares of Precigen in the fourth quarter valued at approximately $12,540,000. Finally, Bank of America Corp DE increased its holdings in shares of Precigen by 201.1% in 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 purchasing an additional 1,673,731 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.