Precigen (NASDAQ:PGEN) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.25 and traded as low as $0.91. Precigen shares last traded at $0.92, with a volume of 644,666 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PGEN shares. StockNews.com upgraded Precigen to a “sell” rating in a research note on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Precigen in a report on Friday. Finally, JMP Securities reduced their target price on Precigen from $14.00 to $7.00 and set a “market outperform” rating on the stock in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.00.

Precigen Trading Down 7.1 %

The firm has a market cap of $207.29 million, a price-to-earnings ratio of -1.63 and a beta of 1.68. The company has a 50 day moving average of $0.92 and a 200 day moving average of $1.25.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The company had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.28 million. Equities analysts forecast that Precigen, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Trading of Precigen

A number of hedge funds and other institutional investors have recently modified their holdings of PGEN. EntryPoint Capital LLC bought a new position in Precigen during the first quarter worth about $31,000. Traphagen Investment Advisors LLC acquired a new position in Precigen in the 3rd quarter valued at about $29,000. Stifel Financial Corp grew its stake in Precigen by 94.9% in the 3rd quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 15,680 shares during the last quarter. SG Americas Securities LLC grew its stake in Precigen by 44.2% in the 3rd quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 13,823 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Precigen by 56.7% in the 2nd quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 18,097 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.