Precigen (NASDAQ:PGEN) Shares Down 6.1% – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN)’s share price fell 6.1% during trading on Monday . The company traded as low as $4.18 and last traded at $4.0180. 373,830 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,511,070 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

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

Precigen Stock Performance

The firm’s fifty day simple moving average is $4.00 and its 200 day simple moving average is $3.26. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.97 and a beta of 1.10. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $2.92 million during 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%. On average, sell-side analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling at Precigen

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the firm’s 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 $1,426,170.02. This trade represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 4,866,329 shares of company stock worth $20,233,899. 47.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in Precigen in the third quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new position in shares of Precigen in the 3rd quarter worth approximately $41,000. Vontobel Holding Ltd. bought a new position in shares of Precigen in the third quarter valued at about $48,000. CIBC Bancorp USA Inc. bought a new position in Precigen in the 3rd quarter worth approximately $53,000. Finally, Flower City Capital acquired a new stake in Precigen in the third quarter worth about $66,000. Institutional investors own 33.51% of the company’s stock.

Precigen Company Profile

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.