Precigen, Inc. (NASDAQ:PGEN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.50.

Several research analysts have issued reports on PGEN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Precigen in a research report on Monday. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Finally, Citizens Jmp lifted their price target on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th.

Precigen Stock Performance

NASDAQ:PGEN opened at $6.61 on Tuesday. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. Precigen has a twelve month low of $1.70 and a twelve month high of $6.70. The company has a fifty day moving average of $5.03 and a 200-day moving average of $4.43. The firm has a market capitalization of $2.36 billion, a P/E ratio of -5.60 and a beta of 1.00.

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 for the quarter, compared to analyst estimates of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, sell-side analysts anticipate that Precigen will post -0.02 EPS for the current year.

Insider Buying and Selling at Precigen

In related news, insider Donald P. Lehr sold 29,131 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $127,011.16. Following the transaction, the insider owned 755,461 shares of the company’s stock, valued at approximately $3,293,809.96. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 171,429 shares of Precigen stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $5.53, for a total value of $948,002.37. Following the transaction, the chief financial officer owned 354,535 shares of the company’s stock, valued at $1,960,578.55. This trade represents a 32.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 956,500 shares of company stock worth $5,248,371. Corporate insiders own 41.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Precigen by 141.1% during the fourth 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 Precigen during the 4th quarter valued at $12,540,000. Bank of America Corp DE boosted its holdings in Precigen by 201.1% during the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after acquiring an additional 1,673,731 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 1,440,446 shares during the last quarter. Finally, Occam Crest Management LP boosted its holdings in Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after purchasing an additional 799,339 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

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.