Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 42,924 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,924 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.85, for a total transaction of $251,105.40. Following the sale, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at $2,911,843.35. The trade was a 7.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Trading Down 7.9%

PGEN opened at $5.25 on Thursday. The stock has a market capitalization of $1.87 billion, a PE ratio of -4.45 and a beta of 1.00. The firm’s fifty day moving average price is $4.43 and its 200 day moving average price is $4.22. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. Precigen, Inc. has a 12-month low of $1.45 and a 12-month high of $6.04.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $23.25 million during the quarter, compared to analyst estimates of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, research analysts expect that Precigen, Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Precigen by 141.1% during the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after purchasing an additional 6,335,033 shares during the period. SymBiosis Capital Partners LLC acquired a new position in Precigen during the 4th quarter valued at approximately $12,540,000. Bank of America Corp DE grew its stake in Precigen by 201.1% during the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after buying an additional 1,673,731 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Precigen by 196.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after buying an additional 1,440,446 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in Precigen in the third quarter worth $2,796,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PGEN. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Citizens Jmp upped their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. HC Wainwright lifted their price objective on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.