Insider Selling: Precigen (NASDAQ:PGEN) Director Sells 4,772,781 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 4,772,781 shares of Precigen stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the sale, the director owned 302,213 shares of the company’s stock, valued at approximately $997,302.90. This trade represents a 94.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Precigen Price Performance

Shares of PGEN stock traded up $0.04 during trading on Thursday, hitting $3.97. The company had a trading volume of 827,221 shares, compared to its average volume of 4,665,688. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46. The stock’s 50-day moving average is $4.04 and its two-hundred day moving average is $3.97. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -2.96 and a beta of 1.12. Precigen, Inc. has a 52 week low of $1.11 and a 52 week high of $5.47.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The business had revenue of $4.57 million during the quarter, compared to analyst estimates of $8.29 million. As a group, analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citizens Jmp upped their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th. HC Wainwright increased their price target on shares of Precigen from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Trading of Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of PGEN. NBC Securities Inc. bought a new stake in Precigen during the 4th quarter valued at $38,000. Mason Investment Advisory Services Inc. purchased a new position in shares of Precigen in the fourth quarter valued at about $42,000. Abel Hall LLC bought a new position in shares of Precigen during the fourth quarter valued at about $44,000. NewEdge Advisors LLC bought a new position in shares of Precigen during the fourth quarter valued at about $45,000. Finally, Asempa Wealth Advisors purchased a new stake in shares of Precigen during the fourth quarter worth about $48,000. Institutional investors 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.