Precigen, Inc. (NASDAQ:PGEN) Receives Average Rating of “Hold” from Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus rating of “Hold” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.50.

Several brokerages have recently weighed in on PGEN. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. HC Wainwright increased their price objective on shares of Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Citizens Jmp upped their target price on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th.

Precigen Stock Performance

Precigen stock opened at $3.94 on Wednesday. Precigen has a twelve month low of $1.11 and a twelve month high of $5.47. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $1.39 billion, a P/E ratio of -2.94 and a beta of 1.12. The stock’s 50 day moving average is $4.00 and its 200 day moving average is $3.97.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%.The business had revenue of $4.57 million during the quarter, compared to analysts’ expectations of $8.29 million. On average, equities research analysts predict that Precigen will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Randal J. Kirk sold 4,772,781 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the transaction, the director directly owned 302,213 shares in the company, valued at $997,302.90. The trade was a 94.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 47.10% of the stock is currently owned by insiders.

Institutional Trading of Precigen

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. bought a new position in shares of Precigen during the fourth quarter valued at $38,000. Mason Investment Advisory Services Inc. purchased a new stake in shares of Precigen during the fourth quarter valued at $42,000. Abel Hall LLC bought a new stake in Precigen in the 4th quarter worth about $44,000. NewEdge Advisors LLC bought a new stake in Precigen in the 4th quarter worth about $45,000. Finally, Asempa Wealth Advisors purchased a new position in Precigen in the 4th quarter worth about $48,000. 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.