Precigen (NASDAQ:PGEN) Shares Up 5.1% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) shares were up 5.1% during trading on Monday . The stock traded as high as $4.30 and last traded at $4.3710. Approximately 865,979 shares traded hands during trading, a decline of 80% from the average daily volume of 4,301,535 shares. The stock had previously closed at $4.16.

Wall Street Analyst Weigh In

PGEN has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Wall Street Zen cut shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, HC Wainwright lifted their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Precigen Trading Down 4.3%

The business’s fifty day moving average price is $4.00 and its 200 day moving average price is $3.20. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $1.51 billion, a PE ratio of -3.06 and a beta of 1.16.

Precigen (NASDAQ:PGEN) last announced its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. As a group, analysts expect that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Randal J. Kirk sold 1,900,036 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the transaction, the director directly owned 341,189 shares in the company, valued at approximately $1,426,170.02. This represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 4,866,329 shares of company stock valued at $20,233,899 in the last ninety days. Corporate insiders own 47.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PGEN. Inspire Investing LLC acquired a new stake in shares of Precigen during the 1st quarter worth $350,000. MetLife Investment Management LLC purchased a new position in shares of Precigen in the 1st quarter worth about $124,000. Adage Capital Partners GP L.L.C. raised its position in Precigen by 3.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock valued at $16,801,000 after purchasing an additional 410,595 shares during the period. Diametric Capital LP purchased a new position in Precigen in the second quarter valued at about $476,000. Finally, Nuveen LLC purchased a new stake in Precigen during the 1st quarter worth approximately $275,000. Institutional investors and hedge funds own 33.51% 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.