Precigen (NASDAQ:PGEN) COO Sells $186,185.08 in Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,703 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $186,185.08. Following the completion of the transaction, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at $2,170,194.36. This trade represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Stock Performance

Shares of PGEN opened at $3.81 on Thursday. The stock has a 50 day moving average price of $4.06 and a 200 day moving average price of $4.09. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.23 and a beta of 1.06. Precigen, Inc. has a 52-week low of $1.30 and a 52-week high of $5.47.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. HC Wainwright increased their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Precigen presently has an average rating of “Hold” and a consensus target price of $12.50.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently modified their holdings of PGEN. State of Wyoming purchased a new position in Precigen in the first quarter worth $27,000. NBC Securities Inc. purchased a new position in Precigen in the fourth quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Precigen in the third quarter worth $39,000. Royal Bank of Canada raised its position in Precigen by 102.6% in the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 5,426 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Precigen in the third quarter worth $41,000. 33.51% of the stock is owned by institutional investors and hedge funds.

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.