Precigen (NASDAQ:PGEN) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Precigen, Inc. (NASDAQ:PGEN) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.07 and traded as low as $3.51. Precigen shares last traded at $3.57, with a volume of 4,630,099 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on PGEN. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Finally, HC Wainwright upped their price objective on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Three investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Stock Up 4.9%

The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -3.30 and a beta of 1.06. The stock’s fifty day moving average is $4.09 and its two-hundred day moving average is $4.07.

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

Insider Activity

In other Precigen news, CEO Helen Sabzevari sold 119,250 shares of Precigen stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $519,930.00. Following the transaction, the chief executive officer directly owned 3,768,872 shares of the company’s stock, valued at $16,432,281.92. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Rutul R. Shah sold 42,703 shares of Precigen stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $186,185.08. Following the transaction, the chief operating officer directly owned 497,751 shares in the company, valued at $2,170,194.36. This represents a 7.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 5,005,749 shares of company stock worth $16,765,918. Company insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of institutional investors have recently added to or reduced their stakes in PGEN. State Street Corp grew its position in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after purchasing an additional 6,335,033 shares in the last quarter. SymBiosis Capital Partners LLC bought a new stake in Precigen in the 4th quarter worth about $12,540,000. Bank of America Corp DE grew its position in Precigen by 201.1% in the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Precigen by 196.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after purchasing an additional 1,440,446 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new stake in Precigen in the 3rd quarter worth about $2,796,000. 33.51% of the stock is owned by institutional investors.

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.