Precigen (NASDAQ:PGEN) Stock Price Up 14.3% – Time to Buy?

Shares of Precigen, Inc. (NASDAQ:PGEN) rose 14.3% on Thursday . The company traded as high as $4.33 and last traded at $4.4460. Approximately 2,302,149 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 4,320,538 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PGEN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Wall Street Zen cut Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. HC Wainwright raised their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Finally, Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Price Performance

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -3.82 and a beta of 1.06. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The company has a fifty day simple moving average of $4.09 and a two-hundred day simple moving average of $4.07.

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

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 119,250 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $519,930.00. Following the completion of the transaction, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. The trade was a 3.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Randal J. Kirk sold 4,772,781 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the transaction, the director directly owned 302,213 shares of the company’s stock, valued at $997,302.90. This trade represents a 94.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,005,749 shares of company stock worth $16,765,918 in the last three months. Insiders own 47.10% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 5,426 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Precigen by 61.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,143 shares of the biotechnology company’s stock valued at $349,000 after purchasing an additional 34,137 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Precigen during the 1st quarter valued at about $1,531,000. State of Wyoming bought a new stake in shares of Precigen during the 1st quarter valued at about $27,000. Finally, Cetera Investment Advisers boosted its position in shares of Precigen by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock valued at $1,449,000 after purchasing an additional 3,250 shares in the last quarter. 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.