Rutul Shah Sells 42,924 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,924 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the transaction, the chief operating officer owned 497,751 shares in the company, valued at $2,911,843.35. The trade was a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Stock Up 7.4%

PGEN opened at $5.64 on Friday. The stock has a fifty day moving average of $4.46 and a 200-day moving average of $4.24. The company has a market capitalization of $2.01 billion, a P/E ratio of -4.78 and a beta of 1.00. Precigen, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $6.04. 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 released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate 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 business had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. On average, equities analysts expect that Precigen, Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Precigen

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in shares of Precigen by 216.9% during the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after buying an additional 43,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 9,043 shares during the last quarter. Strs Ohio acquired a new position in Precigen during the first quarter worth about $70,000. Geode Capital Management LLC lifted its holdings in shares of Precigen by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after acquiring an additional 269,580 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 52,901 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Wall Street Zen cut Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Finally, HC Wainwright boosted their price target on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

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.