Iridian Asset Management LLC CT Has $12.06 Million Holdings in Precigen, Inc. $PGEN

Iridian Asset Management LLC CT reduced its holdings in Precigen, Inc. (NASDAQ:PGEN) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,666,946 shares of the biotechnology company’s stock after selling 611,716 shares during the period. Precigen makes up about 4.7% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 8th biggest position. Iridian Asset Management LLC CT’s holdings in Precigen were worth $12,064,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. bought a new stake in shares of Precigen during the 3rd quarter valued at $48,000. Voya Investment Management LLC increased its holdings in Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 21,633 shares during the last quarter. Flower City Capital acquired a new position in Precigen in the third quarter valued at about $66,000. BNP Paribas Financial Markets lifted its stake in Precigen by 134.7% in the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 28,005 shares during the period. Finally, Strs Ohio bought a new position in Precigen during the first quarter worth about $70,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insider Activity at Precigen

In related news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total value of $7,942,150.48. Following the sale, the director directly owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,866,329 shares of company stock worth $20,233,899 in the last quarter. Company insiders own 47.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PGEN. Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. Finally, HC Wainwright increased their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Precigen Price Performance

Shares of PGEN opened at $4.59 on Monday. The stock has a 50 day simple moving average of $4.05 and a 200 day simple moving average of $3.37. Precigen, Inc. has a 52-week low of $1.05 and a 52-week high of $5.22. The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04. The firm has a market capitalization of $1.62 billion, a PE ratio of -3.30 and a beta of 1.10.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. Sell-side analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal 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.