Precigen (NASDAQ:PGEN) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.07 and traded as low as $3.51. Precigen shares last traded at $3.57, with a volume of 4,630,099 shares changing hands.

Analysts Set New Price Targets

PGEN has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp increased 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. Finally, HC Wainwright increased their price target on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.50.

Precigen Price Performance

The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The stock has a market cap of $1.27 billion, a P/E ratio of -3.03 and a beta of 1.06. The business’s 50-day simple moving average is $4.08 and its two-hundred day simple moving average is $4.07.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm 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%. Sell-side analysts expect that Precigen, Inc. will post -0.02 EPS for the current year.

Insider Activity

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the completion of the transaction, the director owned 302,213 shares in the company, valued at $997,302.90. This trade represents a 94.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Helen Sabzevari sold 119,250 shares of the stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at $16,432,281.92. This 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. 47.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Precigen

Institutional investors and hedge funds have recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of Precigen in the first quarter worth about $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen in the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Precigen in the third quarter worth about $39,000. Royal Bank of Canada lifted its holdings in shares of Precigen by 102.6% in the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Precigen in the third quarter worth about $41,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.