Precigen (NASDAQ:PGEN) Sets New 12-Month High – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.47 and last traded at $5.21, with a volume of 9009402 shares changing hands. The stock had previously closed at $4.93.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zacks Research lowered Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. HC Wainwright lifted their price objective on shares of Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Precigen has an average rating of “Hold” and a consensus target price of $8.50.

Precigen Trading Down 2.9%

The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22. The firm has a market cap of $1.55 billion, a PE ratio of -3.15 and a beta of 1.07. The business has a fifty day moving average price of $4.44 and a 200 day moving average price of $3.93.

Insider Activity at Precigen

In other news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the sale, the director directly owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of institutional investors and hedge funds have recently made changes to their positions in PGEN. Xponance LLC lifted its stake in shares of Precigen by 21.3% in the fourth quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 2,496 shares during the period. BNP Paribas Financial Markets grew its position in Precigen by 6.1% during the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after buying an additional 2,993 shares during the period. Composition Wealth LLC increased its holdings in Precigen by 16.5% in the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 3,000 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Precigen by 5.2% during the 4th quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 3,137 shares during the period. Finally, Strs Ohio boosted its stake in shares of Precigen by 6.8% during the 3rd quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 3,200 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

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.