Precigen (NASDAQ:PGEN) Upgraded at StockNews.com

StockNews.com upgraded shares of Precigen (NASDAQ:PGEN) to a sell rating in a report published on Tuesday.

PGEN has been the subject of several other research reports. 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. Cantor Fitzgerald restated an overweight rating on shares of Precigen in a report on Wednesday, May 15th. Stifel Nicolaus reiterated a buy rating and issued a $7.00 price objective on shares of Precigen in a research report on Wednesday, May 15th. JPMorgan Chase & Co. downgraded shares of Precigen from a neutral rating to an underweight rating in a report on Friday, March 22nd. Finally, HC Wainwright reissued a buy rating and set a $6.00 price objective on shares of Precigen in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $9.00.

Precigen Stock Performance

NASDAQ:PGEN opened at $1.36 on Tuesday. The stock’s fifty day moving average price is $1.39 and its two-hundred day moving average price is $1.35. The company has a market cap of $343.29 million, a price-to-earnings ratio of -3.49 and a beta of 1.77. Precigen has a 52-week low of $0.84 and a 52-week high of $1.88.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results 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). Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. The business had revenue of $1.07 million for the quarter, compared to the consensus estimate of $1.54 million. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities analysts predict that Precigen will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of large investors have recently modified their holdings of PGEN. SG Americas Securities LLC grew its stake in Precigen by 12.5% in the fourth 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 in the last quarter. Fortis Group Advisors LLC bought a new position in shares of Precigen during the 1st quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. raised its stake in Precigen by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 19,041 shares during the period. Vanguard Group Inc. boosted its position in Precigen by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after purchasing an additional 19,875 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Precigen during the 1st quarter worth about $31,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through two segments, Biopharmaceuticals and Exemplar.