Precigen, Inc. (NASDAQ:PGEN) Receives $14.50 Average Target Price from Analysts

Precigen, Inc. (NASDAQ:PGEN) has received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.50.

Several research firms recently commented on PGEN. Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. HC Wainwright upped their price objective on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th.

Insiders Place Their Bets

In other Precigen news, COO Rutul R. Shah sold 42,924 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the sale, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at approximately $2,911,843.35. This trade represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CFO Harry Jr. Thomasian sold 171,429 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $5.53, for a total value of $948,002.37. Following the completion of the sale, the chief financial officer directly owned 354,535 shares in the company, valued at approximately $1,960,578.55. The trade was a 32.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 991,271 shares of company stock worth $6,208,620. Company insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Patient Capital Management LLC purchased a new position in Precigen during the second quarter valued at $108,511,000. BlackRock Inc. purchased a new stake in shares of Precigen during the second quarter worth about $97,737,000. State Street Corp increased its stake in shares of Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after purchasing an additional 6,335,033 shares in the last quarter. SymBiosis Capital Partners LLC acquired a new position in shares of Precigen during the 4th quarter worth about $12,540,000. Finally, Bank of America Corp DE acquired a new position in shares of Precigen during the 2nd quarter worth about $10,536,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Stock Up 2.2%

PGEN stock opened at $7.01 on Friday. The company has a market capitalization of $2.50 billion, a P/E ratio of -6.74 and a beta of 1.02. Precigen has a 12 month low of $2.99 and a 12 month high of $7.72. The firm’s fifty day simple moving average is $6.14 and its 200-day simple moving average is $4.79. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89.

Precigen (NASDAQ:PGEN) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm 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 business’s revenue for the quarter was up 6322.7% on a year-over-year basis. As a group, equities research analysts forecast that Precigen will post 0.25 earnings per share for the current year.

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.