Analysts Set Precigen, Inc. (NASDAQ:PGEN) Price Target at $12.50

Shares of Precigen, Inc. (NASDAQ:PGEN) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.50.

PGEN has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. HC Wainwright lifted their price objective on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Finally, Citizens Jmp upped their target price on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th.

Insider Buying and Selling at Precigen

In other Precigen news, insider Donald P. Lehr sold 29,131 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $127,011.16. Following the sale, the insider owned 755,461 shares of the company’s stock, valued at $3,293,809.96. The trade was a 3.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 171,429 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the transaction, the chief financial officer directly owned 354,535 shares of the company’s stock, valued at $1,960,578.55. The trade was a 32.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 822,728 shares of company stock worth $4,422,853 over the last three months. 41.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after purchasing an additional 6,335,033 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Precigen by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock worth $18,653,000 after buying an additional 613,340 shares in the last quarter. Occam Crest Management LP raised its holdings in shares of Precigen by 29.6% in the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after buying an additional 799,339 shares in the last quarter. SymBiosis Capital Partners LLC bought a new position in shares of Precigen during the 4th quarter worth approximately $12,540,000. Finally, Bank of America Corp DE lifted its position in shares of 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 period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Stock Performance

NASDAQ PGEN opened at $4.95 on Friday. 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 capitalization of $1.76 billion, a price-to-earnings ratio of -4.19 and a beta of 1.00. The company’s fifty day moving average is $4.71 and its two-hundred day moving average is $4.32. Precigen has a 52-week low of $1.47 and a 52-week high of $6.04.

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

Precigen Company Profile

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.