Precigen (NASDAQ:PGEN) Reaches New 12-Month High – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.47 and last traded at $5.4130, with a volume of 353339 shares trading hands. The stock had previously closed at $5.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PGEN. Wall Street Zen cut shares of Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp boosted their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Finally, HC Wainwright upped their price objective on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Stock Up 0.7%

The firm has a market cap of $1.93 billion, a PE ratio of -4.58 and a beta of 1.06. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a 50 day moving average price of $4.26 and a 200-day moving average price of $4.15.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The firm had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Research analysts forecast that Precigen, Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Randal J. Kirk sold 4,772,781 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the sale, the director directly owned 302,213 shares in the company, valued at approximately $997,302.90. This trade represents a 94.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Helen Sabzevari sold 119,250 shares of Precigen stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $519,930.00. Following the sale, the chief executive officer directly owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 5,005,749 shares of company stock worth $16,765,918. Corporate insiders own 41.40% of the company’s stock.

Institutional Trading of Precigen

A number of institutional investors have recently bought and sold shares of the business. Xponance LLC boosted its position in shares of Precigen by 21.3% during the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Precigen by 6.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 2,993 shares in the last quarter. Composition Wealth LLC raised its position in shares of Precigen by 16.5% during the 4th quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 3,000 shares in the last quarter. Intech Investment Management LLC lifted its stake in Precigen by 5.2% during the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 3,137 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Precigen by 0.9% during the first quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock worth $1,449,000 after purchasing an additional 3,250 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other 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.