Precigen (NASDAQ:PGEN) Trading 14.3% Higher – What’s Next?

Precigen, Inc. (NASDAQ:PGEN)’s share price traded up 14.3% on Thursday . The company traded as high as $4.33 and last traded at $4.4460. 2,302,149 shares traded hands during trading, a decline of 47% from the average session volume of 4,320,538 shares. The stock had previously closed at $3.89.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citizens Jmp boosted their target price on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. HC Wainwright upped their price objective 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. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Precigen currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Precigen Price Performance

The stock’s 50-day moving average price is $4.12 and its 200 day moving average price is $4.07. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -3.77 and a beta of 1.06. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data 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 business 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%. Equities research analysts predict that Precigen, Inc. will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Harry Jr. Thomasian sold 41,884 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $182,614.24. Following the sale, the chief financial officer owned 554,535 shares of the company’s stock, valued at $2,417,772.60. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Randal J. Kirk sold 4,772,781 shares of the company’s 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 sale, the director directly owned 302,213 shares in the company, valued at approximately $997,302.90. The trade was a 94.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,005,749 shares of company stock valued at $16,765,918 over the last 90 days. Company insiders own 47.10% of the company’s stock.

Institutional Trading of Precigen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. AQR Capital Management LLC increased its stake in Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 9,043 shares during the period. Strs Ohio bought a new stake in Precigen in the first quarter valued at about $70,000. Geode Capital Management LLC increased its stake in Precigen by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after acquiring an additional 269,580 shares during the period. Finally, Creative Planning increased its stake in Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 52,901 shares during the period. Institutional investors own 33.51% of the company’s stock.

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.