Squarepoint Ops LLC Increases Stake in Precigen, Inc. $PGEN

Squarepoint Ops LLC grew its stake in Precigen, Inc. (NASDAQ:PGEN) by 462.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 353,272 shares of the biotechnology company’s stock after buying an additional 290,505 shares during the quarter. Squarepoint Ops LLC’s holdings in Precigen were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Precigen during the 1st quarter worth approximately $27,000. Royal Bank of Canada boosted its holdings in Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Precigen during the first quarter worth $43,000. Y Intercept Hong Kong Ltd acquired a new stake in Precigen during the first quarter valued at $49,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Precigen during the first quarter valued at $60,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Price Performance

Precigen stock opened at $6.85 on Tuesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of -6.59 and a beta of 1.02. The company’s fifty day moving average price is $6.35 and its 200 day moving average price is $4.92. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. Precigen, Inc. has a 1 year low of $2.99 and a 1 year high of $7.72.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm’s quarterly revenue was up 6322.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Precigen

In other Precigen news, CEO Helen Sabzevari sold 346,836 shares of the business’s stock in a transaction that occurred on 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. The trade was a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 42,924 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.85, for a total value of $251,105.40. Following the transaction, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at $2,911,843.35. The trade was a 7.94% 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 have sold 991,271 shares of company stock worth $6,208,620 in the last quarter. Company insiders own 41.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. HC Wainwright lifted their price target on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Precigen presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Precigen Company Profile

Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.