Patient Capital Management LLC Makes New Investment in Precigen, Inc. $PGEN

Patient Capital Management LLC purchased a new stake in shares of Precigen, Inc. (NASDAQ:PGEN) during the second quarter, Holdings Channel.com reports. The firm purchased 19,036,976 shares of the biotechnology company’s stock, valued at approximately $108,511,000. Precigen comprises about 3.6% of Patient Capital Management LLC’s holdings, making the stock its 12th largest holding. Patient Capital Management LLC owned about 0.05% of Precigen at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 43,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 9,043 shares in the last quarter. Strs Ohio bought a new position in shares of Precigen during the 1st quarter valued at $70,000. Geode Capital Management LLC grew its holdings in shares of Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after purchasing an additional 269,580 shares during the last quarter. Finally, Creative Planning raised its position in Precigen by 127.8% in the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 52,901 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

Precigen Price Performance

Shares of Precigen stock opened at $7.20 on Monday. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. The company has a market cap of $2.57 billion, a PE ratio of -6.92 and a beta of 1.02. The business has a 50 day moving average of $5.81 and a 200 day moving average of $4.65. Precigen, Inc. has a 52 week low of $2.99 and a 52 week high of $7.50.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 6322.7% on a year-over-year basis. As a group, equities research analysts forecast that Precigen, Inc. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

PGEN has been the subject of several analyst reports. Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Citizens Jmp lifted their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. HC Wainwright raised their price target on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Precigen currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Insider Activity at Precigen

In other news, CFO Harry Jr. Thomasian sold 171,429 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $5.53, for a total value of $948,002.37. Following the completion of the sale, the chief financial officer directly owned 354,535 shares of the company’s stock, valued at approximately $1,960,578.55. This trade represents a 32.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Sabzevari sold 346,836 shares of Precigen stock in a transaction dated 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 sale, the chief executive officer directly owned 3,768,872 shares in the company, valued at $22,198,656.08. The trade was a 8.43% decrease in their position. 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 have sold a total of 989,239 shares of company stock valued at $5,472,960 over the last quarter. Company insiders own 41.40% of the company’s stock.

Precigen 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.