Precigen (NASDAQ:PGEN) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Precigen (NASDAQ:PGEN) to a sell rating in a research note issued to investors on Tuesday.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright restated a buy rating and issued a $6.00 price objective on shares of Precigen in a report on Wednesday, March 20th. JPMorgan Chase & Co. lowered shares of Precigen from a neutral rating to an underweight rating in a report on Friday, March 22nd. Finally, JMP Securities reaffirmed a market outperform rating and issued a $14.00 target price on shares of Precigen in a research note on Wednesday, March 20th.

Precigen Price Performance

Shares of Precigen stock opened at $1.45 on Tuesday. The firm has a market cap of $360.93 million, a PE ratio of -3.72 and a beta of 1.73. Precigen has a 1 year low of $0.84 and a 1 year high of $1.88. The company has a 50 day simple moving average of $1.46 and a two-hundred day simple moving average of $1.32.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its position in Precigen by 10.6% during the 2nd quarter. Legal & General Group Plc now owns 70,487 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 6,777 shares during the period. Rhumbline Advisers increased its position in Precigen by 4.2% during the 3rd quarter. Rhumbline Advisers now owns 209,054 shares of the biotechnology company’s stock valued at $297,000 after purchasing an additional 8,335 shares during the period. SG Americas Securities LLC increased its position in Precigen by 12.5% during the 4th quarter. SG Americas Securities LLC now owns 76,352 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 8,478 shares during the period. Nuveen Asset Management LLC increased its position in Precigen by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 534,983 shares of the biotechnology company’s stock valued at $717,000 after purchasing an additional 9,955 shares during the period. Finally, Citigroup Inc. increased its position in Precigen by 29.5% during the 2nd quarter. Citigroup Inc. now owns 44,569 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 10,153 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

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. The company, through its technologies, enables to find solutions for biotherapeutics.