GSA Capital Partners LLP Buys New Shares in Precigen, Inc. $PGEN

GSA Capital Partners LLP purchased a new stake in Precigen, Inc. (NASDAQ:PGEN) during the 2nd quarter, Holdings Channel reports. The firm purchased 116,964 shares of the biotechnology company’s stock, valued at approximately $667,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Precigen by 61.0% in the first quarter. The Manufacturers Life Insurance Company now owns 90,143 shares of the biotechnology company’s stock valued at $349,000 after purchasing an additional 34,137 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Precigen during the 1st quarter worth approximately $1,531,000. State of Wyoming bought a new stake in shares of Precigen during the 1st quarter worth approximately $27,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Precigen by 0.9% in the 1st quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock valued at $1,449,000 after buying an additional 3,250 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright raised their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Precigen Stock Up 6.1%

Shares of PGEN opened at $7.16 on Thursday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. Precigen, Inc. has a 52 week low of $2.94 and a 52 week high of $7.32. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -6.88 and a beta of 1.02. The stock has a fifty day moving average of $5.70 and a 200-day moving average of $4.62.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The business had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. The business’s quarterly revenue was up 6322.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Precigen

In other news, CEO Helen Sabzevari sold 346,836 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.89, for a total value of $2,042,864.04. Following the completion of the transaction, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at $22,198,656.08. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald P. Lehr sold 29,131 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $127,011.16. Following the completion of the transaction, the insider owned 755,461 shares of the company’s stock, valued at approximately $3,293,809.96. This trade represents a 3.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 989,239 shares of company stock valued at $5,472,960. Company insiders own 41.40% of the company’s stock.

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.