Precigen (NASDAQ:PGEN) Trading Down 4.2% – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN) traded down 4.2% during trading on Tuesday . The company traded as low as $4.28 and last traded at $4.2650. 670,505 shares changed hands during trading, a decline of 84% from the average session volume of 4,307,867 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

Several analysts have issued reports on PGEN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. HC Wainwright upped their price target on Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Precigen currently has an average rating of “Moderate Buy” and an average price target of $8.50.

Precigen Stock Down 4.6%

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -3.05 and a beta of 1.16. The stock’s 50 day moving average is $4.00 and its 200 day moving average is $3.18. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.The firm had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. Analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares in the company, valued at $1,426,170.02. This trade represents a 84.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 4,866,329 shares of company stock worth $20,233,899 over the last ninety days. 47.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Precigen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Precigen during the 3rd quarter valued at $39,000. Russell Investments Group Ltd. purchased a new position in shares of Precigen during the third quarter valued at $41,000. Vontobel Holding Ltd. acquired a new position in Precigen during the third quarter valued at $48,000. CIBC Bancorp USA Inc. purchased a new stake in Precigen in the 3rd quarter worth about $53,000. Finally, Voya Investment Management LLC boosted its position in Precigen by 142.9% during the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 21,633 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.