Precigen (NASDAQ:PGEN) Given New $14.00 Price Target at HC Wainwright

Precigen (NASDAQ:PGEN) had its target price upped by stock analysts at HC Wainwright from $11.00 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 218.18% from the company’s previous close.

Several other equities research analysts also recently weighed in on PGEN. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Citizens Jmp increased their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Wall Street Zen raised Precigen from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

Precigen Price Performance

PGEN stock opened at $4.40 on Thursday. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The company has a market capitalization of $1.57 billion, a PE ratio of -3.73 and a beta of 1.07. Precigen has a 12-month low of $1.28 and a 12-month high of $5.47. The business’s fifty day moving average price is $3.98 and its 200 day moving average price is $4.09.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. On average, sell-side analysts anticipate that Precigen will post 0.04 EPS for the current year.

Insider Transactions at Precigen

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction dated Monday, March 30th. The stock was 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 $997,302.90. This trade represents a 94.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 47.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after acquiring an additional 6,335,033 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Precigen by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after acquiring an additional 613,340 shares during the last quarter. Occam Crest Management LP increased its holdings in shares of Precigen by 29.6% in the 4th quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after acquiring an additional 799,339 shares during the last quarter. SymBiosis Capital Partners LLC purchased a new position in shares of Precigen in the 4th quarter valued at about $12,540,000. Finally, Bank of America Corp DE increased its holdings in shares of Precigen by 201.1% in the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after acquiring an additional 1,673,731 shares during the last quarter. Hedge funds and other 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.