Analysts Set Precigen, Inc. (NASDAQ:PGEN) Target Price at $9.00

Shares of Precigen, Inc. (NASDAQ:PGEN) have received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $9.00.

Several research analysts have issued reports on PGEN shares. StockNews.com raised Precigen to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. cut Precigen from a “neutral” rating to an “underweight” rating in a report on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and issued a $14.00 target price on shares of Precigen in a report on Wednesday, March 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Precigen in a research note on Wednesday, May 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Precigen in a report on Wednesday, May 15th.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently bought and sold shares of the stock. Patient Capital Management LLC increased its position in Precigen by 16.2% during the fourth quarter. Patient Capital Management LLC now owns 15,983,700 shares of the biotechnology company’s stock worth $21,418,000 after buying an additional 2,230,524 shares during the period. Vanguard Group Inc. grew its position in shares of Precigen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after acquiring an additional 19,875 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in Precigen by 4.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock valued at $3,032,000 after acquiring an additional 86,340 shares in the last quarter. Opaleye Management Inc. raised its stake in shares of Precigen by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 1,012,500 shares of the biotechnology company’s stock worth $1,357,000 after buying an additional 84,000 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Precigen in the first quarter valued at about $1,022,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Price Performance

NASDAQ PGEN opened at $1.39 on Wednesday. The company has a market cap of $350.86 million, a price-to-earnings ratio of -3.56 and a beta of 1.77. Precigen has a 52 week low of $0.84 and a 52 week high of $1.88. The business has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.35.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.54 million. Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. During the same quarter in the prior year, the business posted ($0.10) earnings per share. On average, equities research analysts anticipate that Precigen will post -0.35 earnings per share for the current year.

Precigen Company Profile

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. It operates through two segments, Biopharmaceuticals and Exemplar.