Precigen (NASDAQ:PGEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Precigen (NASDAQ:PGEN) from a hold rating to a strong-buy rating in a research note released on Saturday morning.

Several other analysts have also commented on PGEN. Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. HC Wainwright increased their price objective on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Citizens Jmp raised 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Precigen has an average rating of “Moderate Buy” and an average price target of $14.50.

Precigen Trading Down 3.2%

Precigen stock opened at $7.00 on Friday. The firm has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $4.52. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. The stock has a market capitalization of $2.50 billion, a PE ratio of -6.73 and a beta of 1.02. Precigen has a 12-month low of $1.70 and a 12-month high of $7.32.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.Precigen’s revenue was up 6322.7% on a year-over-year basis. As a group, equities research analysts expect that Precigen will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Precigen news, CEO Helen Sabzevari sold 346,836 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the sale, the chief executive officer directly owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. This trade represents a 8.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harry Jr. Thomasian sold 100,000 shares of Precigen stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $6.06, for a total value of $606,000.00. Following the transaction, the chief financial officer directly owned 254,535 shares in the company, valued at approximately $1,542,482.10. This trade represents a 28.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 989,239 shares of company stock valued at $5,472,960 in the last 90 days. Insiders own 41.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alpine Woods Capital Investors LLC purchased a new stake in Precigen in the 2nd quarter worth approximately $1,309,000. BlackRock Inc. acquired a new stake in shares of Precigen during the 2nd quarter valued at $97,737,000. Deutsche Bank AG purchased a new position in shares of Precigen during the 2nd quarter valued at $1,141,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Precigen during the 2nd quarter valued at $307,000. Finally, SCS Capital Management LLC acquired a new position in shares of Precigen in the second quarter worth $244,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.