Precigen (NASDAQ:PGEN) Director Jeffrey Kindler Sells 185,000 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) Director Jeffrey Kindler sold 185,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the completion of the transaction, the director owned 17,100 shares of the company’s stock, valued at approximately $127,224. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Precigen Stock Down 3.3%

Shares of PGEN opened at $6.95 on Friday. The stock’s 50-day moving average price is $6.05 and its two-hundred day moving average price is $4.75. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.48 billion, a PE ratio of -6.68 and a beta of 1.02. Precigen, Inc. has a 12 month low of $2.99 and a 12 month high of $7.72.

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

Hedge Funds Weigh In On Precigen

Several hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new stake in shares of Precigen during the 1st quarter worth $1,338,000. Alpine Woods Capital Investors LLC bought a new position in Precigen during the 2nd quarter worth approximately $1,309,000. Occam Crest Management LP increased its stake in shares of Precigen by 29.6% in the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after buying an additional 799,339 shares during the period. Patient Capital Management LLC purchased a new stake in Precigen during the 2nd quarter valued at $108,511,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Precigen in the first quarter worth about $1,531,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PGEN. Citizens Jmp lifted their price target on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Zacks Research upgraded Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. HC Wainwright increased their price target on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.50.

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.