Rutul Shah Sells 15,342 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 15,342 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the sale, the chief operating officer directly owned 468,865 shares of the company’s stock, valued at approximately $3,516,487.50. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Up 1.5%

NASDAQ:PGEN traded up $0.11 during trading hours on Tuesday, hitting $7.28. 5,831,975 shares of the stock were exchanged, compared to its average volume of 4,691,108. The company’s 50 day moving average is $5.86 and its two-hundred day moving average is $4.67. Precigen, Inc. has a twelve month low of $2.99 and a twelve month high of $7.55. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.60 billion, a P/E ratio of -7.00 and a beta of 1.02.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The firm’s revenue for the quarter was up 6322.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several institutional investors have recently modified their holdings of PGEN. KBC Group NV acquired a new stake in Precigen during the 1st quarter worth $1,338,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Precigen in the second quarter worth about $1,309,000. Occam Crest Management LP raised its position in shares of Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after purchasing an additional 799,339 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Precigen during the first quarter worth about $1,531,000. Finally, Patient Capital Management LLC bought a new position in shares of Precigen during the 2nd quarter valued at about $108,511,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on PGEN shares. HC Wainwright upped their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp upped their target price on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. One investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

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.