Goldman Sachs Group Inc. Sells 174,020 Shares of Precigen, Inc. $PGEN

Goldman Sachs Group Inc. lessened its position in shares of Precigen, Inc. (NASDAQ:PGEN) by 34.3% in the first quarter, HoldingsChannel reports. The fund owned 333,512 shares of the biotechnology company’s stock after selling 174,020 shares during the period. Goldman Sachs Group Inc.’s holdings in Precigen were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in shares of Precigen by 142.9% during the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 21,633 shares during the period. Inspire Investing LLC bought a new stake in shares of Precigen during the first quarter worth approximately $350,000. Strs Ohio bought a new stake in shares of Precigen during the first quarter worth approximately $70,000. Parkman Healthcare Partners LLC bought a new stake in shares of Precigen during the first quarter worth approximately $4,755,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 9,043 shares during the period. Institutional investors own 33.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PGEN shares. HC Wainwright reiterated a “buy” rating and issued a $8.50 price target on shares of Precigen in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of Precigen from an “underweight” rating to a “neutral” rating in a research report on Friday, August 15th. Finally, JMP Securities lifted their price target on shares of Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Insider Activity at Precigen

In other news, Director Nancy H. Agee acquired 15,360 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $49,152.00. Following the completion of the transaction, the director directly owned 192,196 shares in the company, valued at approximately $615,027.20. This trade represents a 8.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Randal J. Kirk sold 3,596,892 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $3.68, for a total transaction of $13,236,562.56. Following the transaction, the director owned 8,520,537 shares of the company’s stock, valued at approximately $31,355,576.16. This represents a 29.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 41,005 shares of company stock valued at $167,651. Company insiders own 47.10% of the company’s stock.

Precigen Price Performance

Shares of PGEN opened at $3.48 on Friday. Precigen, Inc. has a one year low of $0.65 and a one year high of $5.22. The company has a market cap of $1.04 billion, a P/E ratio of -8.29 and a beta of 1.82. The firm has a 50 day simple moving average of $3.07 and a two-hundred day simple moving average of $2.05.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.67 million. On average, analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

About Precigen

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.