Rutul Shah Sells 42,703 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,703 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 value of $186,185.08. Following the completion of the sale, the chief operating officer directly owned 497,751 shares of the company’s stock, valued at $2,170,194.36. The trade was a 7.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Down 5.1%

Shares of PGEN stock traded down $0.22 on Monday, hitting $4.12. The stock had a trading volume of 4,830,773 shares, compared to its average volume of 4,257,618. The company’s 50 day moving average price is $4.02 and its 200-day moving average price is $4.09. Precigen, Inc. has a 1 year low of $1.28 and a 1 year high of $5.47. 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 $1.47 billion, a P/E ratio of -3.49 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $23.25 million during 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%. Analysts anticipate that Precigen, Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Precigen

Several institutional investors have recently added to or reduced their stakes in PGEN. State Street Corp boosted its holdings in Precigen by 141.1% in 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. SymBiosis Capital Partners LLC acquired a new stake in Precigen during the fourth quarter worth approximately $12,540,000. 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 last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Precigen by 196.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock valued at $9,087,000 after buying an additional 1,440,446 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in shares of Precigen in the 3rd quarter valued at $2,796,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PGEN shares. Wall Street Zen downgraded shares of Precigen from a “buy” rating to a “hold” rating in a research note on Sunday. Citizens Jmp raised their price target on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Three research 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. According to MarketBeat.com, Precigen presently has a consensus rating of “Hold” and an average price target 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.