Investment Insight Wealth Management LLC Makes New Investment in Precigen, Inc. $PGEN

Investment Insight Wealth Management LLC purchased a new position in Precigen, Inc. (NASDAQ:PGEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 105,906 shares of the biotechnology company’s stock, valued at approximately $443,000. Precigen makes up about 0.4% of Investment Insight Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after buying an additional 6,335,033 shares during the last quarter. SymBiosis Capital Partners LLC bought a new position in shares of Precigen in the fourth quarter worth about $12,540,000. Bank of America Corp DE increased its stake in shares of Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after purchasing an additional 1,673,731 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Precigen by 196.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after purchasing an additional 1,440,446 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Precigen during the 3rd quarter worth about $2,796,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Price Performance

Shares of NASDAQ:PGEN opened at $4.82 on Friday. Precigen, Inc. has a 1-year low of $1.39 and a 1-year high of $5.47. The firm has a market capitalization of $1.72 billion, a PE ratio of -4.08 and a beta of 1.06. The business’s 50 day moving average is $4.17 and its 200-day moving average is $4.10. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.

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

Wall Street Analysts Forecast Growth

PGEN has been the topic of several recent analyst reports. Citizens Jmp lifted their price target on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. HC Wainwright upped their target price on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling

In related news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the transaction, the director owned 302,213 shares of the company’s stock, valued at $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harry Jr. Thomasian sold 41,884 shares of Precigen stock in a transaction that occurred 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 sale, the chief financial officer directly owned 554,535 shares in the company, valued at $2,417,772.60. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 5,005,749 shares of company stock worth $16,765,918. Insiders own 41.40% of the company’s stock.

Precigen Profile

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.