Precigen, Inc. (NASDAQ:PGEN) Receives Average Rating of “Moderate Buy” from Analysts

Precigen, Inc. (NASDAQ:PGEN) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

PGEN has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. Wall Street Zen cut Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, HC Wainwright raised their price target on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 14th.

Insider Activity at Precigen

In other news, Director Randal J. Kirk sold 1,900,036 shares of Precigen 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 transaction, the director directly owned 341,189 shares of the company’s stock, valued at $1,426,170.02. The trade was a 84.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 4,866,329 shares of company stock valued at $20,233,899. Insiders own 47.10% of the company’s stock.

Institutional Trading of Precigen

A number of large investors have recently bought and sold shares of the business. Diametric Capital LP acquired a new stake in Precigen during the 2nd quarter worth approximately $476,000. Patient Capital Management LLC raised its stake in shares of Precigen by 62.6% during the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock worth $87,056,000 after purchasing an additional 10,192,107 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Precigen by 142.9% during the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 21,633 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Precigen by 17.3% during the second quarter. Inspire Investing LLC now owns 275,870 shares of the biotechnology company’s stock worth $392,000 after purchasing an additional 40,758 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in Precigen in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Stock Up 8.5%

PGEN stock opened at $4.84 on Friday. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22. Precigen has a twelve month low of $1.11 and a twelve month high of $5.22. The company’s 50 day moving average is $4.12 and its two-hundred day moving average is $3.52. The stock has a market cap of $1.71 billion, a P/E ratio of -3.48 and a beta of 1.10.

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

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.