Cantor Fitzgerald Reiterates “Overweight” Rating for Precigen (NASDAQ:PGEN)

Cantor Fitzgerald reissued their overweight rating on shares of Precigen (NASDAQ:PGEN) in a report issued on Thursday,Benzinga reports.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Precigen Stock Up 2.3%

PGEN opened at $1.31 on Thursday. Precigen has a 52-week low of $0.65 and a 52-week high of $2.17. The company has a 50 day moving average of $1.50 and a two-hundred day moving average of $1.29. The company has a market cap of $386.67 million, a P/E ratio of -2.38 and a beta of 1.82.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.34 million during the quarter, compared to analysts’ expectations of $0.50 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. Research analysts anticipate that Precigen will post -0.32 earnings per share for the current year.

Institutional Trading of Precigen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT increased its holdings in shares of Precigen by 38.8% in the fourth quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock valued at $5,871,000 after buying an additional 1,465,962 shares in the last quarter. LexAurum Advisors LLC lifted its holdings in shares of Precigen by 151.9% during the fourth quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock valued at $775,000 after purchasing an additional 417,055 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Precigen by 3.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock valued at $16,801,000 after purchasing an additional 410,595 shares during the period. Nuveen LLC purchased a new position in Precigen in the 1st quarter worth about $275,000. Finally, Mill Creek Capital Advisors LLC increased its position in shares of Precigen by 131.8% in the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company’s stock worth $380,000 after acquiring an additional 145,000 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.