Precigen, Inc. (NASDAQ:PGEN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have received an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.00.

A number of research analysts recently commented on PGEN shares. HC Wainwright boosted their price objective on shares of Precigen from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Wall Street Zen raised Precigen from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Citizens Jmp lifted their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Finally, Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th.

Precigen Stock Performance

Shares of PGEN opened at $4.40 on Thursday. The company’s 50 day moving average price is $3.98 and its 200 day moving average price is $4.09. Precigen has a 52 week low of $1.28 and a 52 week high of $5.47. The company has a market capitalization of $1.57 billion, a PE ratio of -3.73 and a beta of 1.07. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The firm had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Research analysts expect that Precigen will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the transaction, the director directly owned 302,213 shares of the company’s stock, valued at $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of large investors have recently added to or reduced their stakes in PGEN. State of Wyoming bought a new stake in Precigen during the first quarter worth approximately $27,000. NBC Securities Inc. bought a new stake in Precigen during the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Precigen during the third quarter worth approximately $39,000. Royal Bank of Canada boosted its position in Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 5,426 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Precigen during the 3rd quarter worth $41,000. Institutional investors own 33.51% of the company’s stock.

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.