Precigen (NASDAQ:PGEN) CFO Harry Jr. Thomasian Sells 171,429 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 171,429 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the completion of the sale, the chief financial officer owned 354,535 shares in the company, valued at approximately $1,960,578.55. This trade represents a 32.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harry Jr. Thomasian also recently made the following trade(s):

• On Monday, June 29th, Harry Jr. Thomasian sold 28,571 shares of Precigen stock. The shares were sold at an average price of $5.78, for a total value of $165,140.38.
• On Thursday, May 28th, Harry Jr. Thomasian sold 41,884 shares of Precigen stock. The shares were sold at an average price of $4.36, for a total transaction of $182,614.24.

Precigen Stock Down 7.9%

Shares of NASDAQ:PGEN opened at $5.25 on Thursday. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The business’s 50 day moving average is $4.43 and its 200 day moving average is $4.22. The stock has a market cap of $1.87 billion, a P/E ratio of -4.45 and a beta of 1.00. Precigen, Inc. has a 52-week low of $1.45 and a 52-week high of $6.04.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million for 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 predict that Precigen, Inc. will post -0.02 EPS for the current year.

Institutional Trading of Precigen

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in shares of Precigen during the first quarter worth about $27,000. NBC Securities Inc. purchased a new position in shares of Precigen during the 4th quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Precigen during the third quarter valued at approximately $39,000. Royal Bank of Canada raised its position in Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 5,426 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Precigen in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PGEN. HC Wainwright upped their price target on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Finally, Citizens Jmp upped their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Company 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.