Precigen, Inc. (NASDAQ:PGEN) Stock Has Consensus Target Price of $13.67 According to Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.67.

A number of analysts have recently weighed in on PGEN shares. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial began coverage on shares of Precigen in a research report on Friday, September 25th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Research lowered shares of Precigen from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Thursday, October 15th. Finally, HC Wainwright raised their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th.

Precigen Price Performance

PGEN opened at $6.19 on Friday. The business has a fifty day moving average of $7.28 and a 200 day moving average of $5.72. Precigen has a 52-week low of $3.04 and a 52-week high of $8.98. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. The stock has a market cap of $2.21 billion, a P/E ratio of -5.95 and a beta of 0.92.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The company had revenue of $54.98 million during the quarter, compared to analyst estimates of $27.98 million. The business’s revenue was up 6322.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Precigen will post 0.24 EPS for the current year.

Insider Activity

In other Precigen news, 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 transaction, the director owned 17,100 shares in the company, valued at approximately $127,224. This represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Harry Thomasian, Jr. sold 100,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $6.06, for a total value of $606,000.00. Following the completion of the transaction, the chief financial officer directly owned 254,535 shares in the company, valued at approximately $1,542,482.10. The trade was a 28.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 401,511 shares of company stock worth $2,801,508 over the last 90 days. 41.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Precigen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new stake in shares of Precigen in the second quarter valued at about $1,908,000. Bank of New York Mellon Corp acquired a new position in shares of Precigen during the 2nd quarter worth about $2,705,000. Bank of America Corp DE purchased a new position in Precigen in the 2nd quarter valued at about $10,536,000. Squarepoint Ops LLC lifted its stake in Precigen by 462.8% in the 2nd quarter. Squarepoint Ops LLC now owns 353,272 shares of the biotechnology company’s stock valued at $2,014,000 after buying an additional 290,505 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Precigen during the 1st quarter worth approximately $1,338,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

About Precigen

Precigen, Inc is a clinical-stage biotechnology company focused on developing gene and cell therapies for cancer and serious diseases. The company uses its proprietary UltraCAR-T, AdenoVerse, and other gene-engineering platforms to design potential treatments intended to improve the targeting, persistence, and manufacturing of therapeutic cells and genetic medicines.

Precigen’s pipeline has included PRGN-2012, an investigational immunotherapy based on a gorilla adenovector for recurrent respiratory papillomatosis, as well as PRGN-2001, an investigational HPV-targeted immunotherapy.