The Manufacturers Life Insurance Company Buys Shares of 91,097 Precigen, Inc. $PGEN

The Manufacturers Life Insurance Company purchased a new position in shares of Precigen, Inc. (NASDAQ:PGEN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,097 shares of the biotechnology company’s stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV purchased a new stake in shares of Precigen in the 1st quarter valued at $1,338,000. Alpine Woods Capital Investors LLC purchased a new position in Precigen during the 2nd quarter valued at about $1,309,000. Patient Capital Management LLC acquired a new position in Precigen in the 2nd quarter valued at about $108,511,000. Occam Crest Management LP grew its position in Precigen by 29.6% in the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after acquiring an additional 799,339 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Precigen during the first quarter worth about $1,531,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PGEN. Citizens Jmp increased their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, HC Wainwright raised their price target on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Precigen currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Precigen Stock Performance

Shares of PGEN opened at $7.10 on Monday. The stock has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $4.83. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. The stock has a market capitalization of $2.53 billion, a PE ratio of -6.83 and a beta of 1.02. Precigen, Inc. has a 1 year low of $2.99 and a 1 year high of $7.72.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm’s revenue was up 6322.7% compared to the same quarter last year. On average, analysts predict that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Rutul R. Shah sold 42,924 shares of Precigen stock in a transaction on Monday, June 29th. The shares were sold at an average price of $5.85, for a total transaction of $251,105.40. Following the completion of the sale, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at approximately $2,911,843.35. The trade was a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey B. Kindler sold 185,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the transaction, the director owned 17,100 shares of the company’s stock, valued at approximately $127,224. The trade was a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 991,271 shares of company stock worth $6,208,620. Insiders own 41.40% of the company’s stock.

About Precigen

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.