Precigen (NASDAQ:PGEN) Shares Gap Up – What’s Next?

Precigen, Inc. (NASDAQ:PGEN)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.75, but opened at $2.00. Precigen shares last traded at $1.74, with a volume of 3,134,827 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PGEN shares. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Precigen in a research report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and set a $6.00 price objective (up from $4.00) on shares of Precigen in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

Precigen Stock Down 1.4 %

The firm has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.06. The stock has a market capitalization of $505.20 million, a price-to-earnings ratio of -3.12 and a beta of 1.66.

Hedge Funds Weigh In On Precigen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Envestnet Asset Management Inc. increased its stake in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 5,915 shares during the period. Invesco Ltd. lifted its stake in Precigen by 14.6% in the fourth quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 6,040 shares in the last quarter. ProShare Advisors LLC boosted its stake in Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 10,900 shares during the period. Stoneridge Investment Partners LLC grew its holdings in shares of Precigen by 21.3% during the fourth quarter. Stoneridge Investment Partners LLC now owns 68,681 shares of the biotechnology company’s stock worth $77,000 after buying an additional 12,063 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Precigen by 12.0% in the fourth quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 12,285 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.