Precigen (NASDAQ:PGEN) Sets New 1-Year High – Time to Buy?

Precigen, Inc. (NASDAQ:PGEN) hit a new 52-week high on Wednesday . The company traded as high as $7.55 and last traded at $7.28, with a volume of 5831975 shares. The stock had previously closed at $7.17.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. HC Wainwright boosted their target price on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Citizens Jmp upped their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Finally, Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Precigen has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Precigen Price Performance

The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -6.91 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. The business has a 50 day moving average price of $6.01 and a 200-day moving average price of $4.73.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The business’s quarterly revenue was up 6322.7% compared to the same quarter last year. Research analysts predict that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity at Precigen

In other Precigen news, CEO Helen Sabzevari sold 346,836 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $5.89, for a total value of $2,042,864.04. Following the completion of the sale, the chief executive officer directly owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harry Jr. Thomasian sold 171,429 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the completion of the sale, the chief financial officer owned 354,535 shares of the company’s stock, valued at $1,960,578.55. The trade was a 32.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 806,271 shares of company stock worth $4,832,220 in the last quarter. Company insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 period. Strs Ohio bought a new stake in shares of Precigen during the first quarter valued at approximately $70,000. Geode Capital Management LLC increased its holdings in shares of Precigen by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after acquiring an additional 269,580 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Precigen by 127.8% during the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 52,901 shares in the last quarter. Institutional investors and hedge funds 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.