Precigen (NASDAQ:PGEN) Stock Price Up 11.2% – Time to Buy?

Precigen, Inc. (NASDAQ:PGEN) rose 11.2% during trading on Tuesday . The company traded as high as $3.55 and last traded at $3.6150. Approximately 2,138,265 shares changed hands during trading, a decline of 53% from the average daily volume of 4,538,606 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Citizens Jmp increased their target price on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th. Wall Street Zen upgraded Precigen from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright boosted their price objective on Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.50.

Precigen Price Performance

The stock’s fifty day moving average price is $4.06 and its 200-day moving average price is $3.97. The company has a debt-to-equity ratio of 4.46, a current ratio of 3.09 and a quick ratio of 2.83. The firm has a market cap of $1.33 billion, a PE ratio of -2.76 and a beta of 1.10.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The company had revenue of $4.57 million during the quarter, compared to analysts’ expectations of $8.29 million. As a group, equities analysts expect that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Lansing Street Advisors acquired a new stake in Precigen in the 3rd quarter valued at approximately $1,800,000. Patient Capital Management LLC boosted its stake in shares of Precigen by 62.6% in the third quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after purchasing an additional 10,192,107 shares during the period. Diametric Capital LP acquired a new position in shares of Precigen in the second quarter valued at approximately $476,000. Boxer Capital Management LLC purchased a new stake in Precigen during the 3rd quarter worth approximately $2,796,000. Finally, SG Americas Securities LLC increased its stake in Precigen by 68.4% during the 4th quarter. SG Americas Securities LLC now owns 39,319 shares of the biotechnology company’s stock worth $164,000 after buying an additional 15,969 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.