Precigen (NASDAQ:PGEN) Trading 7.7% Higher – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) shares were up 7.7% on Monday . The company traded as high as $5.22 and last traded at $5.1920. Approximately 1,982,514 shares traded hands during trading, a decline of 55% from the average daily volume of 4,380,153 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PGEN. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Citizens Jmp raised their target price on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Precigen presently has a consensus rating of “Hold” and an average price target of $12.50.

Precigen Stock Performance

The business has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $4.14. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. The firm has a market cap of $1.91 billion, a PE ratio of -4.54 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. Equities research analysts forecast that Precigen, Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling at Precigen

In other news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction 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 sale, the director directly owned 302,213 shares of the company’s stock, valued at $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helen Sabzevari sold 119,250 shares of Precigen stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $519,930.00. Following the transaction, the chief executive officer owned 3,768,872 shares in the company, valued at approximately $16,432,281.92. This trade represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 5,005,749 shares of company stock valued at $16,765,918. 41.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Precigen

A number of institutional investors have recently bought and sold shares of PGEN. State of Wyoming purchased a new position in shares of Precigen in the first quarter valued at about $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen during the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Precigen during the third quarter worth about $39,000. Royal Bank of Canada raised its stake in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 5,426 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Precigen during the 3rd quarter valued at approximately $41,000. Hedge funds and other 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.