Precigen (NASDAQ:PGEN) Trading Down 7.5% – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) was down 7.5% during trading on Monday . The company traded as low as $4.23 and last traded at $4.2450. Approximately 1,422,310 shares were traded during trading, a decline of 58% from the average daily volume of 3,377,105 shares. The stock had previously closed at $4.59.

Analyst Ratings Changes

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

Precigen Price Performance

The firm has a market cap of $1.46 billion, a P/E ratio of -2.98 and a beta of 1.10. The business’s fifty day simple moving average is $4.05 and its 200-day simple moving average is $3.37. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22.

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

Insider Activity

In other news, Director Randal J. Kirk sold 1,900,036 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares in the company, valued at approximately $1,426,170.02. This trade represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,866,329 shares of company stock valued at $20,233,899 over the last quarter. Corporate insiders own 47.10% of the company’s stock.

Hedge Funds Weigh In On Precigen

Institutional investors have recently made changes to their positions in the stock. Patient Capital Management LLC lifted its holdings in shares of Precigen by 62.6% during the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock worth $87,056,000 after acquiring an additional 10,192,107 shares during the last quarter. Bank of America Corp DE raised its position in Precigen by 201.1% during the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. Boxer Capital Management LLC purchased a new position in shares of Precigen in the 3rd quarter worth about $2,796,000. Franklin Resources Inc. increased its position in shares of Precigen by 1,895.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,178 shares of the biotechnology company’s stock valued at $2,195,000 after purchasing an additional 633,743 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of Precigen by 36.2% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 2,101,715 shares of the biotechnology company’s stock valued at $6,915,000 after buying an additional 558,892 shares in the last quarter. Institutional investors 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.