Iridian Asset Management LLC CT Reduces Position in Precigen, Inc. (NASDAQ:PGEN)

Iridian Asset Management LLC CT cut its holdings in shares of Precigen, Inc. (NASDAQ:PGENFree Report) by 12.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,585,809 shares of the biotechnology company’s stock after selling 656,113 shares during the quarter. Precigen comprises approximately 2.1% of Iridian Asset Management LLC CT’s holdings, making the stock its 16th biggest position. Iridian Asset Management LLC CT’s holdings in Precigen were worth $6,833,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Precigen by 7.3% in the fourth quarter. Rhumbline Advisers now owns 197,134 shares of the biotechnology company’s stock worth $221,000 after buying an additional 13,338 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Precigen by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company’s stock worth $3,696,000 after buying an additional 53,343 shares in the last quarter. Barclays PLC lifted its holdings in shares of Precigen by 28.3% in the fourth quarter. Barclays PLC now owns 242,899 shares of the biotechnology company’s stock worth $272,000 after buying an additional 53,546 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Precigen by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock worth $1,432,000 after buying an additional 56,012 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Precigen by 12.0% in the fourth quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock worth $128,000 after buying an additional 12,285 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Precigen Stock Performance

PGEN traded up $0.20 on Wednesday, reaching $1.90. The company had a trading volume of 865,646 shares, compared to its average volume of 1,777,623. The business has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $1.46. The company has a market cap of $559.37 million, a price-to-earnings ratio of -3.40 and a beta of 1.78. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $2.17.

Precigen (NASDAQ:PGENGet Free Report) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $1.34 million for the quarter, compared to the consensus estimate of $0.50 million. Precigen had a negative net margin of 3,728.87% and a negative return on equity of 279.20%. As a group, equities research analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PGEN shares. JMP Securities reissued a “market outperform” rating and issued a $6.00 price target on shares of Precigen in a report on Thursday, June 12th. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Precigen in a report on Thursday, March 20th. Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Precigen in a research note on Thursday, May 15th.

View Our Latest Report on Precigen

Precigen Profile

(Free Report)

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.

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Institutional Ownership by Quarter for Precigen (NASDAQ:PGEN)

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