Precigen (NASDAQ:PGEN) Shares Down 6% – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) was down 6% during mid-day trading on Thursday . The company traded as low as $4.51 and last traded at $4.5850. Approximately 855,727 shares traded hands during trading, a decline of 77% from the average daily volume of 3,759,190 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PGEN shares. Wall Street Zen downgraded Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. HC Wainwright raised their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Zacks Research lowered Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.50.

Precigen Trading Down 9.7%

The firm has a fifty day moving average price of $4.42 and a 200-day moving average price of $3.93. The company has a market capitalization of $1.56 billion, a P/E ratio of -3.19 and a beta of 1.07. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95.

Insider Activity

In related news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction on 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 sale, the director directly owned 341,189 shares in the company, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 47.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Precigen

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Precigen by 216.9% during the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 9,043 shares during the period. Strs Ohio bought a new position in shares of Precigen in the first quarter worth about $70,000. Geode Capital Management LLC lifted its stake in shares of Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after buying an additional 269,580 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 52,901 shares during the period. 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.