Precigen (NASDAQ:PGEN) Stock Price Down 9% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s stock price fell 9% during trading on Wednesday . The stock traded as low as $4.46 and last traded at $4.4140. 3,247,466 shares were traded during trading, a decline of 24% from the average session volume of 4,255,193 shares. The stock had previously closed at $4.85.

Analyst Ratings Changes

PGEN has been the subject of a number of analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Precigen from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upgraded shares of Precigen from an “underweight” rating to a “neutral” rating in a research note on Friday, August 15th. Finally, JMP Securities raised 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 research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Precigen presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Precigen Price Performance

The stock has a market capitalization of $1.57 billion, a P/E ratio of -3.18 and a beta of 1.71. The business’s 50 day moving average price is $3.82 and its 200 day moving average price is $2.67. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95.

Precigen (NASDAQ:PGEN) last issued its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $2.92 million during the quarter, compared to analysts’ expectations of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. Sell-side analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling at Precigen

In other Precigen news, Director Nancy H. Agee bought 15,000 shares of Precigen stock in a transaction on Thursday, September 4th. The stock was acquired at an average cost of $4.60 per share, with a total value of $69,000.00. Following the completion of the acquisition, the director owned 217,841 shares in the company, valued at approximately $1,002,068.60. This represents a 7.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Randal J. Kirk sold 1,809,667 shares of Precigen stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $3.41, for a total transaction of $6,170,964.47. Following the transaction, the director owned 14,597,161 shares in the company, valued at $49,776,319.01. This represents a 11.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 38,861 shares of company stock worth $165,315 and sold 6,984,279 shares worth $25,428,688. 47.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Precigen

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Precigen in the first quarter worth about $87,000. Deutsche Bank AG increased its holdings in Precigen by 35.3% in the 1st quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 23,729 shares in the last quarter. Nuveen LLC bought a new stake in Precigen during the 1st quarter worth approximately $275,000. Mill Creek Capital Advisors LLC lifted its holdings in Precigen by 131.8% during the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company’s stock valued at $380,000 after purchasing an additional 145,000 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Precigen in the first quarter worth approximately $124,000. 33.51% of the stock is owned by institutional investors.

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.