Precigen (NASDAQ:PGEN) Trading Up 6.5%


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Precigen, Inc. (NASDAQ:PGEN) shares shot up 6.5% on Wednesday . The company traded as high as $8.37 and last traded at $8.35. Approximately 13,564 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,665,894 shares. The stock had previously closed at $7.84.

PGEN has been the subject of a number of analyst reports. Stifel Nicolaus started coverage on shares of Precigen in a research note on Wednesday, March 3rd. They set a “buy” rating and a $13.00 price objective for the company. Zacks Investment Research upgraded shares of Precigen from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company started coverage on shares of Precigen in a research report on Monday, March 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Finally, B. Riley increased their target price on Precigen from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Precigen presently has an average rating of “Buy” and a consensus price target of $11.54.

The stock has a market capitalization of $1.69 billion, a PE ratio of -4.37 and a beta of 2.31. The company has a quick ratio of 4.59, a current ratio of 4.93 and a debt-to-equity ratio of 3.31. The stock’s 50-day moving average is $7.82 and its 200 day moving average is $7.55.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Sunday, February 28th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.06). The firm had revenue of $19.33 million for the quarter, compared to analysts’ expectations of $23.05 million. Precigen had a negative return on equity of 150.85% and a negative net margin of 295.57%. As a group, equities research analysts forecast that Precigen, Inc. will post -0.47 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of Precigen by 59.2% during the 3rd quarter. Morgan Stanley now owns 1,086,594 shares of the biotechnology company’s stock worth $3,803,000 after purchasing an additional 403,960 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Precigen by 22.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,222 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 1,300 shares during the period. Victory Capital Management Inc. raised its stake in shares of Precigen by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 11,806 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 1,671 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Precigen by 113.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 95,865 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 50,952 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Precigen by 5,235.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 81,477 shares of the biotechnology company’s stock valued at $831,000 after acquiring an additional 79,950 shares in the last quarter. Hedge funds and other institutional investors own 66.57% of the company’s stock.

About Precigen (NASDAQ:PGEN)

Precigen, Inc discovers and develops the next generation of gene and cellular therapies in the United States. It also provides disease-modifying therapeutics; genetically engineered swine for regenerative medicine applications; proprietary methane bioconversion platform that turns natural gas into energy and chemical products; and reproductive and embryo transfer technologies.

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