Precigen (NASDAQ:PGEN) Stock Price Up 5.5% – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN)’s stock price was up 5.5% on Monday . The company traded as high as $6.46 and last traded at $6.4350. Approximately 485,627 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,615,058 shares. The stock had previously closed at $6.10.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Citizens Jmp boosted their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. HC Wainwright increased their price target on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Precigen presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Precigen Trading Up 3.1%

The company has a market cap of $2.41 billion, a price-to-earnings ratio of -6.49 and a beta of 1.02. The business has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $4.60. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $54.98 million for the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm’s revenue for the quarter was up 6322.7% on a year-over-year basis. On average, equities analysts anticipate that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 346,836 shares of Precigen stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the sale, the chief executive officer directly owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 32,739 shares of Precigen stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $6.86, for a total transaction of $224,589.54. Following the sale, the chief operating officer owned 465,012 shares of the company’s stock, valued at approximately $3,189,982.32. The trade was a 6.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 989,239 shares of company stock worth $5,472,960 in the last ninety days. Corporate insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently bought and sold shares of PGEN. State of Wyoming purchased a new stake in Precigen during the first quarter worth $27,000. NBC Securities Inc. purchased a new position in shares of Precigen in the fourth quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Precigen during the 3rd quarter worth $39,000. Royal Bank of Canada raised its stake in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Precigen in the 3rd quarter worth about $41,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.