Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 42,703 Shares

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,703 shares of Precigen stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $186,185.08. Following the sale, the chief operating officer directly owned 497,751 shares in the company, valued at $2,170,194.36. This trade represents a 7.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Stock Down 5.1%

Shares of PGEN opened at $4.12 on Tuesday. The business’s 50 day moving average is $4.04 and its 200 day moving average is $4.10. The company has a market capitalization of $1.47 billion, a PE ratio of -3.49 and a beta of 1.06. Precigen, Inc. has a 12-month low of $1.28 and a 12-month high of $5.47. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results 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 business had revenue of $23.25 million during the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. Research analysts expect that Precigen, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on PGEN shares. Citizens Jmp raised their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. HC Wainwright lifted their target price on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.50.

Institutional Investors Weigh In On Precigen

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in Precigen during the 1st quarter valued at $27,000. NBC Securities Inc. bought a new stake in Precigen during the 4th quarter valued at $38,000. Mason Investment Advisory Services Inc. bought a new stake in Precigen during the 4th quarter valued at $42,000. Abel Hall LLC bought a new stake in Precigen during the 4th quarter valued at $44,000. Finally, Royal Bank of Canada raised its position in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 5,426 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

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.