Harry Jr. Thomasian Sells 41,884 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 41,884 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $182,614.24. Following the completion of the transaction, the chief financial officer owned 554,535 shares of the company’s stock, valued at $2,417,772.60. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Down 5.1%

Shares of Precigen stock traded down $0.22 during trading hours on Monday, reaching $4.12. 4,830,773 shares of the company’s stock were exchanged, compared to its average volume of 4,257,618. Precigen, Inc. has a 52-week low of $1.28 and a 52-week high of $5.47. The company has a fifty day moving average of $4.02 and a 200-day moving average of $4.09. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.49 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. Sell-side analysts forecast that Precigen, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen cut Precigen from a “buy” rating to a “hold” rating in a report on Sunday. HC Wainwright raised their target price on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Finally, Citizens Jmp increased their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Hedge Funds Weigh In On Precigen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lansing Street Advisors purchased a new position in Precigen in the third quarter valued at about $1,800,000. Boxer Capital Management LLC acquired a new position in shares of Precigen in the 3rd quarter valued at approximately $2,796,000. UBS Group AG boosted its stake in shares of Precigen by 41.4% during the 4th quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after buying an additional 260,824 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Precigen during the third quarter worth approximately $338,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Precigen by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 57,656 shares of the biotechnology company’s stock worth $241,000 after buying an additional 5,426 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.